Immofinanz sells 10 percent stake in Buwog

Immofinanz sells 10 percent stake in Buwog

Published at: 2016-03-10 09:25 | Author: CIJ Journal
Immofinanz has completed the placement of 10 million ordinary shares in Buwog, in a transaction that represents approximately 10 percent of the company’s issued share capital. The selling price has been officially liste d as €17.10 per share, which represents a discount of 8.9 percent to Wednesday’s closing price of the shares. The deal generated total gross proceeds to Immofinanz of approximately €171m. The transaction is expected to settle on 14 March, 2016. Following settlement of the transaction, Immofinanz will hold approximately 28.5 million ordinary shares in the company.

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