* NAV up 39.3 pct at 106.7 euros per share
* Says canceled 2 percent of share capital
* Stock repurchase program to continue
PARIS, Dec 6 French investment company Wendel
on Thursday posted a 39.3 percent rise in its net
asset value over twelve months, boosted by a jump in the share
prices of the listed companies it has stakes in.
The company, which has holdings in testing and inspection
firm Bureau Veritas, construction materials maker Saint
Gobain and electrical infrastructure company Legrand
, also said it had canceled 2 pct of its share capital
at end-November, as part of its stock repurchase program.
"Wendel plans to continue pursuing this program, depending
on market opportunities," the group said in a release.
The company's net asset value (NAV), one of its most closely
watched indicators, stood at 5.3 billion euros ($6.93 billion),
or 106.7 euros per share in late November compared to 90.7 euros
per share in August and 76.6 euros in November last year.
Its net asset value is calculated by subtracting its
liabilities from its assets which mainly reflect the value of
its stakes in listed businesses. The result is then divided by
the number of outstanding shares.
Wendel, which also has stakes in non-listed businesses such
as construction chemicals company Materis and leather finishing
products specialist Stahl, will host its annual investors day on
($1 = 0.7652 euros)
(Reporting by Alice Cannet; Editing by Christian Plumb)