Japan Logistics Fund to Repurchase 2.5% of Outstanding Units; Shares Up 3%

MT Newswires Live

Sep 12, 2024

Japan Logistics Fund (TYO:8967) has approved a buyback of up to 22,800 investment units, or 2.5% of its outstanding units, and cancellation of all repurchased units, according to a Wednesday filing on the Tokyo Stock Exchange.

The buyback, capped at 6 billion yen, will run from Sept. 12 to Dec. 30. The cancellation of all units acquired is scheduled for Jan. 31, 2025.

Japan Logistics Fund believes its units are undervalued and aims to improve investment efficiency by reducing the total number of outstanding units.

Shares of the company were up 3% in recent trade.

Price (JPY): $274800.00, Change: $+7800, Percent Change: +2.92%

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