Arko rises on refreshed share repurchase program

Arko.

16/05/2023 16:17

** Shares of U.S.-based convenience store operator Arko Corp
 ARKO.O  up 4.8% at $7.38
    ** Co says board increased previously authorized share
repurchase program by an additional $50 mln
    ** Adds that it now has availability to repurchase up to $59
mln of ARKO's outstanding shares of common stock
    ** Says it is encouraged by progress in its merchandise and
fuel strategy to maximize gross profit dollars
    ** The repurchase program does not have a stated expiration
date
    ** ARKO shares down 13.86% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))