The group said it has already acquired 4.3 million common shares or just under 5% of the issued capital in two previous share buyback programs in 2008/9 and the latest action targets up to 5.001% of issued capital.
It said the administrative 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."
Allan Saundersonis a managing editor of Property Finance Europe and a contributor to GlobeSt.com.
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