Bettina Schragl

BUWOG – In the course of the day the share exceeded EUR 14

At 09.18 in Frankfurt the time had come: the opening price of the BUWOG share was EUR 13. Then at 09.26 came Vienna, where the share began trading for the first time for EUR 13.20.

Hauke Stars, member of the Executive Board of Deutsche Börse, had just spoken words of welcome in Frankfurt, greeting the newcomer from Austria – the biggest listing in Frankfurt so far this year. Then the wait began: the indicative price range was set at EUR 12 to EUR 14.

About 18 minutes later the initial share price was certain and the bell of the stock exchange rung. The Reuters journalists reported the following: "BUWOG CEO Daniel Riedl couldn't stop ringing the bell on the floor of the Frankfurt Stock Exchange". After all, it was essential to heed the stock exchange and TV media's requests.

And until the close of trading the share price continued to climb: the BUWOG share's closing price in Frankfurt was EUR 13.78; in Vienna it went up to EUR 13.93. The high of the day at both stock exchanges was actually around EUR 14.24 for each.

At around 100 million BUWOG shares, the closing share prices are equivalent to a market capitalisation of between EUR 1.38 and EUR 1.4 billion.

The management board members of the Vienna Stock Exchange were also delighted about the listing: "With the listing on its home market, the company is now accessible to important domestic and international investor groups, and this is the best preparation for further growth", Birgit Kuras and Michael Buhl explained.

Tomorrow, Tuesday, the initial listing will follow in Warsaw. As a result of the spin-off the IMMOFINANZ share was suspended from trading on the Polish Stock Exchange in the last few days. A bull market awaits BUWOG in Warsaw as well.

Several photographs from Frankfurt can be found below.