News Column

Germany : BUWOG AG to be listed in the Prime Standard

April 28, 2014

Shares of Austrian BUWOG AG have been tradable in the Prime Standard of the Frankfurt Stock Exchange since 28 April. This involves a spin-off from IMMOFINANZ AG and is thus not a public offering. The initial listing price was 13,0.

Barclays is the lead manager, Baader Bank AG is the designated sponsor and specialist.

We are delighted that BUWOG AG has chosen Frankfurt for its listing. Through its admission to the Prime Standard, the company has chosen to set itself the highest transparency standards and has thus put itself in a very good starting position for international investors, said Dr Martin Reck, Cash Market Managing Director at Deutsche Boerse.

Daniel Riedl, CEO of BUWOG AG said: BUWOG is well positioned to exploit future growth opportunities with its integrated and sustainable business model and conservative capital and financing structure. We are confident that we can create lasting value for our shareholders.

According to information provided by the company, BUWOG AG is one of the leading full-service providers of residential real estate in Austria and Germany, covering the fields of asset management, development and sales.

In total, the BUWOG Group has a portfolio of more than 53,000 apartments around half of which are in Austria and half in Germany. As a property developer, it has so far built more than 35,000 apartments. Building around 700 new apartments a year in the Greater Vienna area, BUWOG is one of the most active builders of residential properties and property developers in Austria. In addition, the company is also active in Germany with a project pipeline of around 1,600 apartments under construction there.

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Source: TendersInfo (India)

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