German property investment company Develica Deutschland said on Monday that it had bought back a further 3.077 million shares at EUR 0.09 per share, in a move aimed at boosting the company's net asset value. The transaction took place on 10 October.
German property investment company Develica Deutschland said on Monday that it had bought back a further 3.077 million shares at EUR 0.09 per share, in a move aimed at boosting the company's net asset value. The transaction took place on 10 October.
The buyback brings total purchases over the past week to 24.375 million ordinary shares, equivalent to 9.75% of Develica's issued share capital. All the shares acquired by Develica over the past week are being held in treasury.
Develica bought last week's tranche at EUR 0.13 per share, which compares with the last stated NAV of EUR 0.70 per share (for the year to 31 March 2008).
