Share buyback plan boosts Instone Real Estate in pre-market

Instone Real Estate SE

11/02/2022 07:38

** Shares in Instone Real Estate Group SE  INS2.DE  rise
2.9% in early Frankfurt trade after the German firm on Thursday
announced a share buyback of up to 50 million euros ($56.90
million)  urn:newsml:reuters.com:*:nL8N2UM18E
    ** The buyback programme will be carried out between March
18 and Dec. 31, 2022, and will consist of 2.349 million shares,
a maximum of 5% of its share capital
    ** "Shares up 5% after-hours, which seems exaggerated by far
as buyback starts only in more than a month and in the context
of today's expected market weakness," a local trader says
    ** Instone Real Estate sits on top of the German small-cap
index  .SDAXI  in early Frankfurt trade

($1 = 0.8787 euros)

 (Reporting by Ana Cantero)
 ((ana.canteroros@thomsonreuters.com))