HIAG Immobilien shares open at offer price on Swiss debut

ZURICH Fri May 16, 2014 3:09am EDT

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ZURICH May 16 (Reuters) - Shares in Swiss property redevelopment company HIAG Immobilien opened at their offer price on their market debut in Zurich on Friday.

HIAG, which redevelops former industrial and commercial sites to create new residential and office properties, priced its initial public offering at 76 Swiss francs per share earlier on Friday, in the lower half of its prospective range.

By 0705 GMT the shares were trading slightly lower at 75.60 francs per share. (Reporting by Caroline Copley)

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