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Lar España Launches a €42M Share Buyback Program

25 March 2019 – Eje Prime

Lar España has launched a program to repurchase a maximum of 5% of the listed company’s share capital. The program will last for nine months and could amount to up to €42 million, according to the Socimi.

The aim of the capital reduction, which will involve 4.66 million shares is “to continue strengthening the return on investment for our shareholders”.

It is the second time that the Socimi has undertaken an operation of this kind. On 28 February, it completed its first program, which saw it repurchase 3.31% of its share capital.

Lar España owns 17 real estate assets with a combined value of €1.5 billion. Shopping centres account for the majority of those assets (€1.4 billion).

Original story: Eje Prime 

Translation/Summary: Carmel Drake