NIPPON REIT Investment Corp (JP:3296) has released an update.
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NIPPON REIT Investment Corporation has decided to acquire a maximum of 9,000 of its own investment units, utilizing cash reserves, to address the issue of their unit prices being undervalued. The company plans to enhance shareholder value by improving distribution per unit and NAV through this acquisition and the subsequent cancellation of the acquired units by the end of December 2024. The acquisition process will occur through market purchases on the Tokyo Stock Exchange between September 30 and December 13, 2024.
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