Schroder European Real Estate Investment Trust has launched a share buyback programme.
The company said it now has €25m (£21m) in cash, a figure that will be boosted to €28m with an impending sale in Frankfurt.
“Given this robust financial standing, the board and investment manager believe that purchasing the company’s ordinary shares at the current price, which reflects a discount to net asset value, presents an attractive opportunity for shareholders,” the company said.
Panmure Liberum will run the buyback.
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