INVL Baltic Real Estate Moves to Buy Back Shares
The management team at INVL Asset Management, which oversees INVL Baltic Real Estate, has decided to initiate a significant share buyback program. This move comes after the Company has established a reserve of EUR 2.4 million for acquiring its own shares. In line with the decisions made at the recent General Shareholders Meeting, the buyback is set to commence soon.
Details of the Share Buyback Program
The share buyback program will officially begin on 16 December and will conclude on 20 December. INVL Baltic Real Estate plans to purchase up to 100,000 of its own shares during this period. The total maximum purchase price is EUR 270,000, with each share being acquired at a maximum price of EUR 2.70. The pricing structure follows Dutch auction principles, which means that the transaction will take place at a single determined price based on market demand.
Previous Buyback Activity
In a recently concluded buyback, taking place from 4 to 10 December, INVL Baltic Real Estate successfully repurchased 45,759 shares at a maximum price of EUR 2.50. This highlights the Company’s active strategy in managing its equity and enhancing shareholder value.
Current Market Context
As of 11 December, the trading price of INVL Baltic Real Estate shares was approximately EUR 2.46. Vytautas Bakšinskas, real estate fund manager at INVL Asset Management, notes that the increase in the purchase price reflects the Company’s commitment to meet shareholder expectations. He anticipates a robust participation in this buyback, contingent on the perceived value of the shares among investors.
Strategic Share Acquisition
The decision to proceed with this buyback program aligns with the management company’s overarching strategy to amplify shareholder returns while maintaining a healthy balance sheet. With the current reserve, the Company is well-positioned to execute this plan effectively.
INVL Baltic Real Estate's Portfolio Strength
INVL Baltic Real Estate boasts a diverse portfolio, comprising properties in both Vilnius and Riga. Notable assets include prestigious office buildings located in the Old Town of Vilnius and the rapidly developing Dommo Logistics and Industrial Park. The Company has reported occupancy rates between 85% and 100% for its properties, affirming its solid market position.
Financial Performance and Outlook
With a total property area of 19,300 square meters, the real estate assets held by INVL Baltic Real Estate were valued at EUR 45.59 million as of September. The Company has gained a reputation for offering stable returns, being among the top investments in the Baltic real estate sector since its launch as a collective investment fund in December 2016.
About INVL Asset Management
Leading the way in alternative asset management across the Baltic region, INVL Asset Management aims to generate superior risk-adjusted returns for its investors. The firm has been operational for over 30 years, managing assets in various sectors, including private equity, renewable energy, real estate, and more.
Contact Information
Vytautas Bakšinskas, the Real Estate Fund Manager, is available for any inquiries regarding this initiative. Interested parties may reach him directly via email at vytautas.baksinskas@invl.com.
Frequently Asked Questions
What is the purpose of the share buyback?
The share buyback aims to enhance shareholder value by repurchasing company shares at a favorable price, reflecting the value shareholders place on them.
When will the buyback take place?
The share buyback will occur between 16 December and 20 December.
How many shares will INVL Baltic Real Estate buy back?
The company plans to repurchase a maximum of 100,000 shares during this period.
What is the maximum price per share for the buyback?
The maximum purchase price for the shares is set at EUR 2.70 each.
Who can be contacted for more information?
For further information, Vytautas Bakšinskas, the Real Estate Fund Manager, can be contacted via email at vytautas.baksinskas@invl.com.
