Plaza Centers N.V. has confirmed that it has announced in Warsaw, Poland its formal intention to list its shares on the Warsaw Stock Exchange ("WSE"), thereby achieving a dual listing in London (where it is listed on the Main Board of the London Stock Exchange) and Warsaw.
The dual listing of Plaza Centers stock on the WSE will be sought on the basis of a prospectus already filed with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten AFM). The AFM will notify the Polish Financial Supervision Authority (the KNF) about the approval of the prospectus.
The Company is not intending to raise funds as part of this process.
The Company has been active in Central & Eastern Europe since 1996. During this time, it has developed and sold 26 projects, including seven in Poland (Sadyba Best Mall in Warsaw, Kraków Plaza, Poznan Plaza, Ruda Slaska Plaza, Rybnik Plaza, Sosnowiec Plaza and Lublin Plaza). The Company currently has 25 more projects under development, of which four are located in Poland, in Lodz, Suwalki, Torun, and Zgorzelec. Plaza continues to seek further investment opportunities in the country.
Commenting on its intentions, Ran Shtarkman, President and CEO of Plaza Centers N.V., said, "We are pleased to confirm today that we are seeking to list our shares on the Warsaw Stock Exchange. We enjoy a high profile in the region and believe the admission of our shares to trading on this highly active local stock exchange will satisfy the growing appetite of investors in Poland and Central and Eastern Europe to invest in our company.
"The WSE has been extremely active over the past few years, with fast-increasing levels of investment activity from both institutional (particularly pension and mutual funds) and retail investors. We anticipate that the Company's shares will be admitted to trading by the end of this year and are confident that this will enhance the liquidity of our shares, thereby benefiting all our shareholders."
Source: Plaza Centers