(Vienna) Today, PORR AG started trading on the prime market, the premium segment of the Vienna Stock Exchange. PORR AG had been listed on the standard market segment up to now. With the switch to the prime market, the company agrees to comply with tighter transparency, quality and disclosure criteria. Erste Group Bank AG will assume the role of specialist. Furthermore, the two market makers Raiffeisen Centrobank AG and Joh. Berenberg, Gossler & Co. KG will add liquidity to trading in PORR shares. Market capitalization on 19 December 2014 was around EUR 650 million.
Birgit Kuras, member of the Management Board of Wiener Börse AG is very pleased about the new member of the prime market. "The management of PORR AG has shown in exemplary manner: if a company aims to achieve a greater presence on the capital market and takes the appropriate measures, the degree of recognition among domestic and international investors rises."
"Promise kept: almost two years ago, we started our capital market campaign. At the time, the goal was to switch to the prime market by the beginning of 2015. I am happy to be able to say that we have achieved the milestone as announced," said Karl Heinz Strauss, CEO of PORR AG, describing the company's path to the top segment.
The Austrian construction group is the oldest company listed on a regulated market of the Vienna Stock Exchange. In April of this year, PORR AG carried out a capital increase on the Vienna Stock Exchange. The Austrian construction company's proceeds from the secondary public offering amounted to around EUR 119 million and the free float share increased to over 30%.
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 simpler with the aim of improving liquidity. The CEESEG stock exchanges cooperate with 12 exchanges in Central and Eastern Europe and are globally recognized for their unique CEE know-how.