MILAN ( – On March 31st the First Capital NAV was 38.3 million euro (37.9 million at the end of 2017), equal to 15.1 euro per share. The portfolio was valued at 31.5 million, net liquidity of 7.3 million. The liquidity available for investments reaches up to 22 million. The company has also started a program to buy back its own shares: maximum 125.000 shares with a voluntary bid of 12 euros, another 125.000 shares with a buyback plan: at the present date the company holds 10,913 treasury shares, equal to 0.43% of social capital.