Green Property shares fell back sharply on the Dublin market after the group informed the Stock Exchange that it has not received any bid approaches.

The statement from Green is seen as an effort to dampen speculation that the group will shortly be taken private by the management. Green shares closed down 43 cents yesterday on €5.97.

On Friday, Green shares jumped 75 cents to €6.40 after it was reported that it might be taken private by management frustrated at the discount to the group's net asset value.