BFW completes share buyback

BFW Liegenschaften AG had announced on March 12 that it would carry out a share buyback program for a maximum of 9.46% of its share capital, or 354,000 registered category A shares. A fixed price of CHF 45.00 per registered share was offered.

On April 3, the buyback was successfully completed, the real estate company announced. The tender ratio was 142.4%, corresponding to 504,010 registered shares, and a proportional reduction of the tendered shares was therefore made.

The Board of Directors intends to propose to the Annual General Meeting on May 7 to reduce the share capital by cancelling the repurchased registered shares. Following approval by the Annual General Meeting and the execution of the debt call, the execution of the capital reduction is expected to take place in July 2019. The tendered shares will remain in the possession of BFW Liegenschaften until cancellation and are not entitled to dividends. (ah)