The move follows a sharp 50 percent decline in the company’s stock amid investor concerns over regulatory crackdowns and a potential ban.
Since the buyback announcement on Monday, DigiPlus shares have rebounded about 35 percent to P39.50 per share. It reached an all-time high of P65.30 in early June.
Share repurchases reduce the number of outstanding shares, which can boost earnings per share and help stabilize the stock.
The 12-month buyback will be funded through internally generated cash flow.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
