Fairfax Financial Holdings Ltd. announced Friday that Prem Watsa, chairman and CEO, is proposing to make public market purchases of up to 250,000 subordinate voting shares of Fairfax.

In a statement Fairfax said that since financings by Fairfax’s Northbridge and Crum & Forster Holdings subsidiaries have been completed, Watsa considers the current price of Fairfax shares, which is below book value, to be attractive.

Fairfax will not be providing financing for these share purchases.