BlackBerry shares jumped nine per cent today to close at $11.86, one day after the Waterloo, Ont., smartphone company said it would sell most of its Canadian real estate holdings.
The move was interpreted by investors as a positive development, with cash raised from its considerable assets available to finance the company's turnaround under the leadership of new CEO John Chen.
BlackBerry says it intends to sell the majority of its commercial real estate holdings in Canada, but will keep its headquarters in Waterloo, Ont.
The smartphone maker plans to use a combination of vacant sales and sale-leaseback arrangements in divesting the properties.
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