February 13, 2014 / 10:02 AM / 4 years ago

Immofinanz aims to list Buwog on Frankfurt's MDAX

VIENNA, Feb 13 (Reuters) - Austrian property group Immofinanz aims to list its Buwog residential unit on Frankfurt’s mid-cap MDAX segment, its chief executive said on Thursday.

Immofinanz said late on Wednesday it would spin off an initial 51 percent of Buwog to existing shareholders to separate its more conservative portfolio of German and Austria homes from its eastern European commercial assets.

“We’ll have to see where we fit by revenue and size. We’d like to be where our peers are. Of course, we would like to be in the MDAX,” Eduard Zehetner told a news conference.

Buwog’s net asset value is 1.6 billion euros ($2.2 billion), Immofinanz said. ($1 = 0.7359 euros) (Reporting by Georgina Prodhan; Editing by Michael Shields)

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