Atrium European Real Estate's shares performed well on the first day of trading on Euronext Amsterdam on Wednesday. The company's shares also begin trading on the Vienna Stock Exchange, where it has a dual listing, following the exchange of Austrian depositary certificates (ADCs) into ordinary shares.
Atrium European Real Estate's shares performed well on the first day of trading on Euronext Amsterdam on Wednesday. The company's shares also begin trading on the Vienna Stock Exchange, where it has a dual listing, following the exchange of Austrian depositary certificates (ADCs) into ordinary shares.
In a statement issued prior to the commencement of the trading day, Atrium said it would have a market capitalisation of EUR 868 mln based on Tuesday's closing price of ADCs of €3.82 on the Vienna Stock Exchange, and the 227 million Atrium shares in issue.
Atrium's shares rose to EUR 3.85 shortly after the opening of trading in Amsterdam on Wednesday. It reached a high of EUR 4 at midday. Reuters said about 209,000 shares changed hands in Amsterdam at an average price of EUR 3.82 around midday, compared to 273,000 in Vienna at an average price of EUR 3.83. In late trading in Amsterdam, Atrium was at EUR 3.92.
Registered in Jersey and headquartered in Amsterdam, Atrium invests in, manages and develops supermarket anchored shopping centres in Central and Eastern Europe. It has a portfolio of 152 income producing investment assets, spread across eight countries in CEE with a total gross lettable area of 1.1 million m2 as well as a number of development
projects across the region.
Commenting on the listing, Rachel Lavine, CEO of Atrium, said: 'Today is an important day for Atrium as the listing on Euronext represents a significant step forward in the evolution of the company. A second listing on a major international exchange was set as a key objective when we took over the management of the company just over twelve months ago and we are proud that our hard work in this respect has now come to fruition.
'As we have said before, there are many benefits to the Company and its shareholders from the new listing. As an internationally recognised and traded exchange, it opens Atrium up to a far wider universe of potential investors which we believe should result in broader analyst coverage, encourage greater liquidity in Atrium’s shares and therefore enhance pricing over the longer term.'
