Industrial holding company, IWP, has bought back 500,000 of its own shares at €1.50 per share. Its chairman, Mr Joe Moran, purchased 250,000 shares at the same price. He also exercised options over 130,000 share at 12.5p per share which brings his holding in the company to 5.9 per cent. IWP's share price fell by five cents to €1.45 yesterday. This is the second time IWP purchased its own shares - last December it bought 200,000 shares. These shares represent just 0.63 per cent of the equity and will be held as treasury shares.