Platinum Capital (ASX:PMC) repurchased 39.8 million shares under its ongoing on-market buyback, leaving a further 19.5 million shares available for repurchase before the 20% agreed-upon limit ahead of its extraordinary general meeting is reached, according to a Monday filing with the Australian bourse.

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