GGRC11 Launches 10% Share Buyback Program

The Zagros Renda Imobiliária FII (GGRC11) has announced the implementation of a share buyback program to acquire up to 34,115,118 shares, representing approximately 10% of the fund's outstanding capital. Scheduled to begin on July 30, 2026, the buyback program will run for a maximum of 12 months. All repurchased shares will subsequently be retired and canceled by the fund administrator.

To protect the fund's capital, the board has mandated that shares can only be repurchased on the B3 exchange when trading below their net asset value (NAV) from the preceding business day. GGRC11 is leveraging its robust cash position to fund the program, following its 11th share issuance, which raised R$ 1.48 billion. The buyback will be executed through major brokerages, including BTG Pactual, Genial Investimentos, Itaú Corretora, Inter, and Necton.

This strategic capital allocation comes amid broader volatility in the Brazilian financial markets. Today, the IBOV fell 1.24% to 173,825.27, while blue-chip equities faced downward pressure: PETR4 traded at 39.89 (-1.72%), VALE3 at 72.98 (-2.05%), and ITUB4 at 42.55 (-1.37%). By utilizing excess liquidity to acquire shares trading at a discount, GGRC11 aims to manage its capital allocation efficiently and counter market-wide pricing pressures on the IFIX.