CA Immo has announced the start of a new share buyback program comprising around 1.86 million shares, which is equivalent to 1.76% of the current share capital of the company.
The program is expected to start on 28 November 2024 at the earliest and will end no later than 03 November 2025.
The share buyback programme foresees share purchases via the stock exchange. As part of the resolution approved by shareholders, the lowest amount payable on repurchase must not be less than 30% and must not exceed 10% of the average unweighted price at the close of the market on the ten trading days preceding the repurchase. The maximum amount payable shall not be higher than the most recently published IFRS NAV per share.
CA Immo said a general key objective of the share buyback is to increase the shareholder value of the company. It currently holds around 8.78 million treasury shares, representing around 8.24% of the current share capital of CA Immo.
