PIE Events
- German Property Breakfast
14 February 2012
Stockholm
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22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Austria's conwert starts 3rd share buyback program
Vienna-based listed apartment housing developer and investor conwert Immobilien is to commence a third share buyback program, and from mid-December to end June next year will acquire its own stock at a price between E1 and E10. The group has already acquired 4.3m common shares or just under 5% of issued capital in two previous share buybacks in 2008/9 and the latest action targets up to 5.001% of issued equity. It said the admistrative board adopted a further share buyback program, "because the current share price is roughly 45% below the company's net asset value and provides a good opportunity to buy own shares to use them, among other things, for later acquisitions." (See upcoming PIE/PFE editions for full story)