(Alliance News) - GVS Spa announced on Monday its decision to launch a partial voluntary tender offer for up to 23.3 million of its own shares, representing approximately 12% of its share capital.

The offer excludes 1.7 million treasury shares currently held by the company, which account for 0.9% of the share capital.

GVS will pay a consideration of EUR4.30 per share, representing a premium of approximately 12% over the volume-weighted average price of the shares as of April 10.

GVS shares were trading up 10% at EUR4.19 per share on Monday.

By Michele Cirulli, Alliance News reporter

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