German Startups Group, a venture capital investment company primarily focused on technology businesses in German-speaking countries, announced today it has completed its buyback program announced in May 2019. The company repurchased c. 900k shares at €1.50 per share, a 1.3% discount to the last closing price. GSG buys back 79 shares for every 100 tendered shares, which implies 27% oversubscription.
Following the buyback , German Startups owns c. 1.1m of the shares, representing c. 9.4% of its registered capital. The management highlights, that as long as GSG’s shares are trading well below the NAV it will compensate the shareholders in the form of further share buybacks.