German Startups Group GmbH & Co KGaA (GSJ); completes buyback program

Published on 11-07-2019 12:53:00
Author Michal Mordel

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.

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