AIM-listed German retail property company Dawnay Day Treveria is to undertake a strategic review that could see its assets sold off or the company sold.
The company revealed that it was undertaking the review because of the large discount to net asset value that the company’s shares trade at.
Shares in the company lept 10% to €0.49 in early trading. Dawnay Day Treveria was trading at a 61% discount to its NAV at 31 December when shares closed on Friday.
In a statement to the Stock Exchange Dawnay Day said: ‘The board will consider all alternatives available to the company to maximise shareholder value, including returning funds to shareholders through asset disposals or a sale of the whole company.
‘The strategic review is at a very early stage and the Board intends to update shareholders when appropriate.’