MPCC launches bid to buy back 10% of shares

Oslo-listed MPC Container Ships (MPCC) is seeking permission from investors to buy back 10% of its shares.

The expanding feedership company said shareholders will vote on the plan on 17 January.

It wants to repurchase 8.4m shares. These would be worth NOK 275m ($32m) at Friday's price of NOK 32.80.

MPCC will pay not less than NOK 10 and no more than NOK 200 for each share.