Immofinanz takes dual listing in Warsaw

Immofinanz intends to take a dual listing of its shares in Warsaw alongside its existing presence on the Vienna stock exchange.

The CEE real estate investor said the listing on the main market of Warsaw Stock Exchange will likely take place from 7 May 2013.

This will be a so-called 'technical double listing' that covers all issued shares. Immofinanz will then be traded on the two most important stock exchanges in the CEE region - Vienna and Warsaw. The listing will not involve the issue of any new shares.

'With this step, we are expanding the circle of potential investors. We are now on the radar screen of new large investors, and major institutional investors will have an additional opportunity to increase their holdings in Immofinanz,' said CEO Eduard Zehetner.

'Polish pension funds may not invest more than 5% of their managed assets in securities that are listed exclusively in foreign countries. The planned Warsaw listing will remove this restriction for our company,' Zehetner added.

Immofinanz believes the move should also lead to an increase in the liquidity of the company's share. Based on the last data survey in June 2012, Polish institutional investors hold 3% in Immofinanz.

Founded in 1990, Immofinanz’s portfolio across Austria, Germany, Central and Eastern Europe and Russia comprises some 1,800 investment properties with a carrying amount of €10.5 bn.

A PDF of the report on PropertyEU's CEE Investment Briefing held on 26 April 2013 is attached below, plus a link to the videos.