Starts with initial tranche of 10 mln pounds (Il Sole 24 Ore Radiocor) - London, 04 Jun - London-listed Octopus Renewables Infrastructure Trust (ORIT) said that it is launching a share backbuy programme with an initial tranche of up to 10 million pounds.

The company said that its board "notes the significant discount" at which the company's shares are currently trading compared to their NAV and that the "current share price does not accurately reflect the value of the company's portfolio." The share buyback programme is underpinned by the company's "existing cash resources, strong portfolio cashflow generation and the ongoing capital recycling programme," it added.

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(RADIOCOR) 04-06-24 12:51:40 (0329) 5 NNNN