Citycon investigates repurchasing its own shares
Citycon has decided to investigate the possibility of repurchasing its own shares based on the existing authorization granted by the Company’s annual general meeting on 22 March 2021. The Company is investigating using a portion of the funds obtained from the divestment of its necessity retail centre Columbus to finance the repurchases.
The Board of Directors is investigating the volume, means, structure and closer timing for the contemplated repurchase. No decisions regarding the terms and conditions of any repurchase have been made and any repurchases remain subject to market conditions.
Based on the existing authorization, the Board of Directors can decide to repurchase up to ten (10) million shares in the Company, or approximately 5.62 per cent of all registered shares in the company. Own shares can be repurchased at a price formed in public trading on the date of the repurchase or at a price otherwise formed on the market.
For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 50 557 9137
Vice President, Strategy and Investor Relations
Tel. +358 40 725 7573
Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.
Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj’s share is listed in Nasdaq Helsinki.