IFCA MSC (KLSE:IFCAMSC) is seeking shareholders' approval to renew its share buyback authority to purchase up to 10% of the issued shares of the company, according to a Wednesday Malaysian bourse disclosure.
Shares slid about 3% in Thursday's afternoon trade.
The software developer will table a resolution to renew the share buy-back authority at the company's upcoming annual general meeting.
IFCA MSC will share a statement containing details of the repurchase plan with shareholders in due time, it noted.
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