UBM moves to prime market of the Vienna Stock Exchange by end of August
Vienna (18 August 2016) A first milestone of a consistent focus on the capital market has been achieved with the move to the prime market, the top segment of the Vienna Stock Exchange.
UBM Development AG, a property developer of European scale, will be listed on the highest segment of the Vienna Stock Exchange – the prime market – as of 22 August 2016. The UBM share had been listed in the standard market segment up to now. With this move UBM agrees to comply with Vienna Stock Exchange’s most stringent standards of transparency and disclosure criteria. At the same time, a continuous price quotation in trading of the shares will be guaranteed, thereby enhancing tradability and appeal of the shares for institutional and international investors.
“We promised some time ago that UBM would move to the prime market. The fact that this has now been realised is an important milestone in our commitment to a greater focus on the capital market. This step allows us to increase transparency for investors and analysts and we want to significantly enhance the share’s visibility on the capital market”, says Thomas G. Winkler, CEO of UBM Development AG. As a result of the change to the prime market segment ahead of schedule the publication of the half-year results 2016 are moved forward to 31 August 2016.
UBM Development AG is a pure player focusing on property development. The strategic focus on the clearly defined asset classes of Hotel, Office and Residential is complemented by the concentration on the home markets of Germany, Austria and Poland. In 2015 UBM managed to significantly expand its business and achieved new records in output and earnings for the third year in a row.