The IMMOFINANZ share will in all probability be listed in the Main Market of the Warsaw Stock Exchange starting on May 7, 2013. This step represents a so-called ‘technical double listing’ that covers all issued shares. IMMOFINANZ will then be traded on the two most important stock exchanges in the CEE region–Vienna and Warsaw. The listing will not involve the issue of any new shares.
“With this step, we are expanding the circle of potential investors. We are now on the radar screen of new large investors, and major institutional investors will have an additional opportunity to increase their holdings in IMMOFINANZ. For example, Polish pension funds may not invest more than 5% of their managed assets in securities that are listed exclusively in foreign countries.
“The planned Warsaw listing will remove this restriction for our company“, explained Eduard Zehetner, CEO of IMMOFINANZ Group. “It should also lead to an increase in the liquidity of our share.“ Based on the last data survey in June 2012, Polish institutional investors hold approx. 3% of this real estate company.
The initial public offering of IMMOFINANZ on the Vienna Stock Exchange took place in 1996, and the company’s shares have been listed in the leading ATX index since March 2011. In March 2012 IMMOFINANZ became the first publicly traded real estate company to join the ATX five, which covers the five ATX companies with the highest weighting, and has also been included in the FTSE EPRA/NAREIT Emerging Europe Index since that time.
IMMOFINANZ AG has issued approx. 1.129 billion zero par value voting shares and currently has a market capitalization of approx. €3.57 billion (based on a share price of €3.132 on April 26, 2013). The largest investors with stakes of over 5% are the Fries Group and JPMorgan, the remainder of the shares represents free float.
Austrian private investors hold approx. 41% of the shares, institutional shareholders approx. 48%. Most of the institutional investors are located in Austria (15.16%), followed by North America (7.94%), Great Britain (4.07%), the Netherlands (3.80%) and Poland (2.67%).