Raven Property Group - Strongly growing NAV
Raven Property Group made further operational and strategic progress in H119 against the background of a strengthening operating environment and firming market rents. Leasing progress is maintaining improved levels of occupancy, while rental income and property values increased. With positive currency effects (stronger rouble versus sterling), NAV per share grew strongly. The now completed 14.8% share repurchase, primarily from Woodford Investment Management, both eliminates any perceived stock overhang and further enhances NAV per share. The share price has failed to keep pace, creating a substantial discount to NAV.Raven Property Group is a property investment group focusing on commercial real estate in Russia. Co. has three operating segments: Property Investment, which acquires, develops and leases commercial property in Russia; Roslogistics, which is engaged in the provision of warehousing, transport, customs brokerage and related services in Russia; and Raven Mount, which sells residential property in the U.K.
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