Platinum Capital (ASX: PMC) has repurchased 5.1 million shares under its ongoing on-market buy-back, which started on Aug. 21, leaving a further 54.2 million shares available for repurchase before the 20% limit agreed upon ahead of its extraordinary general meeting is reached, according to a Friday filing with the Australian bourse.

The company is targeting a buy-back price of 1% to 2% below its estimated daily post-tax net tangible asset, the filing said.

Shares of the company fell 2% in recent Friday trade.