Ascendant Group Limited, the parent company of Belco, has repurchased 710,000 of its own shares.

The shares were bought at price of $7 each, and 6.6 per cent of Ascendant’s overall listed securities issued as at the date of the trade.

In a statement released through the Bermuda Stock Exchange, Ascendant stated it intends to cancel 595,000 of the listed securities repurchased and retain the remainder as treasury shares to be used for general corporate purposes.