UPDATE 1-Immofinanz sees secondary Warsaw listing on May 7
* Secondary listing seen on Warsaw main market on May 7
* Step designed to increase investor reach, liquidity
* Shares up 0.3 percent (Adds background, shares)
VIENNA, April 29 (Reuters) - Austrian real-estate group Immofinanz expects a secondary listing of its shares on Warsaw's main market to take place on May 7, it said on Monday.
The company, whose main listing is in Vienna, wants to increase the visibility and liquidity of its shares and attract new investors.
"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," it said in a statement.
Immofinanz shares are the most liquid on the Vienna bourse but the Warsaw Stock Exchange has overtaken its Austrian rival both in market capitalisation and in trading volume.
The Austrian company is also preparing to spin off and list in Frankfurt its Buwog unit of German and Austrian residential property, leaving a portfolio mainly consisting of central and eastern European assets.
Immofinanz shares edged up 0.3 percent to 3.14 euros by 1130 GMT, broadly in line with Europe's real estate index. (Reporting by Georgina Prodhan; Editing by Keiron Henderson and Helen Massy-Beresford)
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Regulators seek to curb Wall St. trades with Volcker rule |
- Thai PM urges protesters to take part in election |