Financial services company LOM is to buy back up to 200,000 of its own shares for cancellation.

LOM Financial Ltd’s board has authorised the buy-back scheme, which represents around 3.3 per cent of the overall listed securities of the company.

The firm said the move was approved “due to a disparity between the current share price and the current book value of shares.”

Last year, LOM repurchased a total of 42,500 shares at an average price of $2.21 a share.

LOM provides international investment services and products from its offices in Bermuda, the Bahamas and the UK.