Yes.

The buy back of shares is known as a share repurchase or a buy back.

Companies offer a privilege to repurchase its own shares from the shareholders with higher price comparing to the market.

A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares, because a share repurchase reduces the number of shares outstanding (i.e. supply), it increases earnings per share and tends to elevate the market value of the remaining shares.

Buy back of shares refers to the repurchase of shares by a firm as a means to reduce shares on the market.

There are two types of repurchase agreements i.e. term and open repurchase agreement. Term repurchase agreement has a specified end date. Whereas, open one has no end date.