(Vienna) New stock on Vienna Stock Exchange's prime market: BUWOG AG, a company specialized in Austrian and German residential real estate, started listing on the Official Market today. A part of Immofinanz AG was spun off to BUWOG AG effective as of today's trading session. The allocation ratio for existing IMMOFINANZ shareholders is 1:20, that is, 1 BUWOG share for 20 IMMOFINANZ shares. The opening price of the share in Vienna was EUR 13.20. Erste Group Bank AG will act as a specialist and provide liquidity in continuous trading. Further market makers are Baader Bank AG and Raiffeisen Centrobank AG. The BUWOG share also started listing in Frankfurt and Warsaw besides Vienna.
"Today's initial listing starts a new era in the 60-year history of BUWOG. The direct access to the capital market opens up enormous opportunities for the future development of our company and makes it possible for us to better exploit the growth potential of our two main markets of Germany and Austria," said BUWOG CEO Daniel Riedl.
The Management Board Members of the Vienna Stock Exchange are very pleased with the new listing. "We cordially welcome BUWOG to the Vienna Stock Exchange. With the listing on its home market, the company is now accessible to major domestic and international investor groups and this is the best preparation for further growth," explained Birgit Kuras and Michael Buhl.
Dynamic development of the Vienna Stock Exchange
With BUWOG AG, a new company has joined the Vienna Stock Exchange. Therefore, this year’s positive trend on the Vienna Stock Exchange – driven mainly by capital increases – continued. Since the start of 2014, EUR 2.8 billion in fresh capital has been raised through the stock market, which is an increase of 75% versus the full year 2013 (8 capital increases that raised EUR 1.6 billion). Porr AG is also in the process of carrying out a capital increase. The new Porr shares will start trading on the stock exchange this week.
About the Vienna Stock Exchange
The Vienna Stock Exchange is a 100% subsidiary of the CEE Stock Exchange Group (CEESEG) which includes the stock exchanges of Budapest, Ljubljana and Prague. The CEE Stock Exchange Group is the largest stock exchange group in the region. In addition to the four stock exchanges, CEESEG operates three commodity exchanges and holds stakes in five clearing systems (CCPs) and two central securities depositories (CSDs). CEESEG makes access and trading on the local markets easier with the aim of improving liquidity. The CEESEG stock exchanges cooperate with 12 exchanges in Central and Eastern Europe and are highly appreciated worldwide for their unique CEE know-how.
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