SHARES in software group Craneware lifted three per cent yesterday on the news the company was instigating a £15 million share buyback.

The buyback is being made available to shareholders on the company’s register as of 15 January.

The price at which the shares can be acquired will reflect the average closing market value of a share over the five days the market is open up to and including 22 January.

The buyback will be undertaken by Craneware broker, Peel Hunt. The company expects to acquire up to 1.4 million shares.

Craneware, which specialising in providing billing solutions to the US healthcare market, has seen its share price rise more than 40 per cent since June, as it increases its market share.