** Shares of Webcentral jump as much as 8.3% to A$0.260, thier biggest intraday pct gain since Oct 27

** The digital services co says it is launching an on-market share buyback

** Co says buyback will be funded from proceeds of the sale of its domains business, which is expected to be completed on Dec 20

** Says it may begin buyback programme on Dec 22

** Shares hit their highest level since Nov 23

** Stock on track for a second consecutive session of gains, if trend holds

** Webcentral stock up 60% YTD, as of last close

(Reporting by Echha Jain in Bengaluru)

((Echha.jain@thomsonreuters.com))