The real estate investment company INVL Baltic Real Estate bought back 61,721 of its own shares via the Nasdaq Vilnius stock exchange according to Dutch auction principles, paying the established maximum price per share (EUR 2.70).
“The purpose of repurchasing shares is to reduce the company’s share capital by cancelling the shares acquired. For the company’s shareholders, it was an opportunity to sell some or all their shares. Given the smaller number of shares outstanding after a buyback, the value of the remaining shares increases,” says Vytautas Bakšinskas, the real estate fund manager at INVL Asset Management, which manages INVL Baltic Real Estate.
The share buyback took place 16-20 December. INVL Baltic Real Estate had authorisation to acquire up to 100,000 shares (1.2% of its authorized capital). To purchase the shares, a sum of EUR 270,000 was allocated from an unused EUR 2.4 million reserve for own-share acquisitions.
The decision to begin a buyback of INVL Baltic Real Estate was made by the management company INVL Asset Management, the leading alternative asset manager in the Baltics. The shareholders of INVL Baltic Real Estate authorized the company to purchase its own shares in late April 2024.
Under Dutch auction rules, all shares are purchased at the uniform lowest price set by the exchange’s algorithm.
At present, INVL Baltic Real Estate has bought back 107,480 of its own shares (1.3 % of its authorized capital).
About INVL Baltic Real Estate
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, the Pramogų bankas in the centre of Vilnius, and the 52-ha Dommo Logistics and Industrial Park by the juncture of highway A8 and the A5 Riga bypass road. The company’s properties had occupancies of 85 % to 100 % at the end of September 2024.
INVL Baltic Real Estate currently owns properties with a total area of 19,300 sq. m., the value of the real estate at the end of September 2024 was EUR 45.59 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The INVL Baltic Real Estate operates as a closed-ended investment company which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.
About INVL Asset Management
INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.
We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or have under supervision more than EUR 1.6 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds. Further information www.invl.com/en/.
Important information
This is a marketing communication of an information nature, which is not and shall not be construed as an offer to purchase investment shares of a collective investment undertaking, an investment recommendation, or investment research, as it is not designed to take into account the investment objectives, financial situation, or needs any individual investor.
When investing, the investors assume the risk associated with the investment. The value of investments can both rise and fall, and an investor may recover less than he/she/it has invested. Past investment results do not guarantee the same results or profitability in the future. Past performance is not a reliable indicator of future performance. Before making a decision to invest, potential investors should, on their own or with the help of investment advisers, assess the suitability of the investment for them along with the taxes and fees related to the investment, consider all the risks related to the investment, and carefully read the articles of association, prospectus and other documents of the respective collective investment undertaking.
