Pepper Money (ASX:PPM) will undertake an on-market buyback of up to 10% of the shares currently on issue starting May 8 for up to 12 months, according to a Wednesday filing with the Australian bourse.

The buyback will be conducted during trading over the 12 months, with timing and number of shares purchased based on market conditions, share price, and business capital considerations, the filing said.

Price (AUD): $1.40, Change: $+0.0050, Percent Change: +0.36%