Shares of Australia’s Perenti (ASX:PRN) rise as much as 2.5% to A$1.03, setting a record for its largest gain since October 2.

The diversified mining services provider recently launched an on-market share buy-back program.

The announced buy-back program intends to purchase up to 60 million shares.

The company’s stock has endured a rough year, having fallen 24% as of its last closing.

Perenti is a diversified mining services provider based in Australia.