360 Capital Group Completes Off-Market Buy-Back and Initiates On-Market Buy-Back

360 Capital Group Limited ( (AU:TGP) ) has provided an announcement.

360 Capital Group has completed an off-market buy-back of 13,320,216 securities, representing 6.3% of its total securities, at a fixed price of $0.65 per security. Following this, the company plans to commence an on-market buy-back of up to 19,247,230 securities, funded by its existing cash reserves. This strategic move is aimed at addressing the trading discount of its securities to the net asset value, utilizing excess cash effectively. The on-market buy-back will be executed by Morgans Financial Limited, with the company holding over $81 million in cash and $18 million in short-term loan investments.

More about 360 Capital Group Limited

360 Capital Group is an ASX-listed investment and funds management group focused on strategic and active investment management of real estate assets. The company operates in Australia, investing across real estate equity and credit opportunities, partnering with stakeholders to identify, invest, and realize opportunities.

Average Trading Volume: 68,402

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$126.9M

For an in-depth examination of TGP stock, go to TipRanks’ Stock Analysis page.