IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
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Strategic partnerships 9.0%<br />
Investment properties 25.0%<br />
Central and Eeastern<br />
Europe (CEE) 32.8%<br />
Commonwealth of<br />
Independent States<br />
(CIS 23.9%<br />
Subsequent Events<br />
Subsequent Events<br />
66.0% Development properties<br />
43.3% South-eastern Europe (SEE)<br />
Continuation of growth course<br />
On the first day of the 20<strong>07</strong>/08 financial year, <strong>IMMOEAST</strong> started the largest issue of shares in the<br />
history of the company: the capital increase carried out from 2 to 21 May 20<strong>07</strong> led to the sale of<br />
277.9 million new shares. The issue price was determined through a bookbuilding procedure, and<br />
equalled EUR 10.20 per share. The volume of the issue totalled EUR 2.84 billion. This capital market<br />
transaction by <strong>IMMOEAST</strong> was the largest issue to date by a European property company and the<br />
second largest capital increase by a listed company in Austria.<br />
Strong demand by institutional and private investors led to the easy placement of the issue, which<br />
was oversubscribed roughly two-times. The public offering in Poland also generated substantial<br />
interest (see text box: “Second listing in Warsaw”). The majority shareholder IMMOFINANZ exercised<br />
its subscription rights in full and continues to hold a stake of 50.46%.<br />
This capital market transaction led to a strong increase in the market capitalisation of <strong>IMMOEAST</strong>.<br />
At the end of June the stock exchange value of the company totalled EUR 8.7 billion That makes<br />
<strong>IMMOEAST</strong> the Number 2 listed property company in Continental Europe. A ranking of property companies<br />
that focus on investments in Central, Eastern and South-eastern Europe and the successor<br />
states of the former Soviet Union shows <strong>IMMOEAST</strong> with a substantial lead as Number 1.<br />
<strong>Report</strong> by the Executive Board 59<br />
Highlights <strong>2006</strong>/<strong>07</strong><br />
Business Model and Strategy<br />
Portfolio Structure<br />
Corporate Governance and Outlook<br />
Property Portfolio<br />
Development of Business<br />
Consolidated Financial Statements<br />
Service and Glossary<br />
Investment programme<br />
20<strong>07</strong>/08 of EUR 6 billion<br />
by type of investment<br />
As of 30.4.20<strong>07</strong><br />
Investment programme<br />
20<strong>07</strong>/08 of EUR 6 billion<br />
by primary segment<br />
As of 30.4.20<strong>07</strong><br />
Successful EUR 2.84 billion<br />
capital increase<br />
Issue clearly over-subscribed<br />
despite record volume
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