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Ichigo Office REIT to Launch 1.5 Billion Yen Share Buyback

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Ichigo Office REIT Investment (TYO:8975) will launch a 1.5 billion yen buyback program to repurchase up to 20,000 investment units to enhance shareholder value, according to a Friday filing on the Tokyo Stock Exchange.

The Tokyo-listed company said that the repurchases to be conducted through market purchases between July 21 and Sept. 30 are aimed at increasing the net asset value per unit.

The buyback represents 1.3% of outstanding shares, and all acquired shares under the program will be canceled on Oct. 30.

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