GP Investments, Ltd. announces an Equity Buyback for 20,000,000 shares, representing 46.25% of its issued share capital.
November 09, 2023 at 06:44 am EST
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GP Investments, Ltd. (BOVESPA:GPIV33) announces a share repurchase program. Under the plan, the company will repurchase up to 20,000,000 Class A shares, representing 46.25% of its share capital. The repurchase will include shares in the form of Brazilian Depositary Shares evidenced by Brazilian Depositary Receipts.
The purchase price for the share repurchase shall be the market price on the date of each purchase. The program will expire on November 6, 2024. As of November 6, 2023, the company had 43,245,895 class A shares outstanding and no shares in treasury.
GP Investments, Ltd. is a Bermuda-based private equity and alternative investment company. The Companyâs operations comprise private equity, real estate and direct investment activities, including the management of limited partnerships. Its segments include private equity and real estate. In the private equity business, it invests to acquire control or joint control with the original owners with the objective of lead the invested company. In real estate business, it invests primarily at the asset level, directly in projects in the residential, office and retail segments. Its investment portfolio includes Spice Private Equity Ltd., Grupo SBF, BR Properties, and 2TM Group. It invests in approximately 15 sectors, such as industry, health services, mobile resource management, retail, logistics, real estate/shopping malls, Internet and technology, hotel, telecommunication, utilities, education, entertainment/restaurants, consumer goods, human resources (HR) services, and oil and gas.
GP INVESTMENTS, LTD. 
