The FINANCIAL -- Euronext on October 8 welcomed the real-estate investment group Aroundtown Property Holdings for its listing on Alternext Paris.
Aroundtown Property Holdings specializes in income-generating properties with a special emphasis on repositioning and turnaround operations/activities focusing on market segments offering sound fundamentals and scope for strong growth. These include residential, commercial and hotel properties primarily in Germany. Aroundtown’s main holdings includes a €1.3 billion commercial portfolio, the publicly listed companies Grand City and Primecity, according to Euronext.
Aroundtown Property Holdings was admitted to trading on Alternext Paris through the listing of 600,141,641common shares following its transfer from the Free Market. At listing, Aroundtown was valued at €2.1 billion. The company’s free float stands currently at 25%.
Albert Ganyushin, Head of International Listings at Euronext, said: “We are delighted to welcome Aroundtown Property Holdings to Alternext, Euronext’s exchange-regulated market. Aroundtown is a leading property company operating primarily in Germany and is a great addition to the growing community of international issuers listed on Euronext, Europe’s leading stock exchange. This listing will further raise the group’s visibility in the European capital markets and will offer greater access to a large and diverse pool of investors, enabling the company to accelerate the deployment of its strategy. We look forward to a long-lasting partnership with Aroundtown.”
Andrew Wallis, Vice Chairman of the Advisory Board of Aroundtown Property Holdings, added: “Euronext proved in many instances to be a valuable partner and an ideal trading platform which benefits our diverse international investor base. We are very pleased about this next step which fits to the Company`s strategy to list on a continuous trading platform. And thus we are certain that this step will create more trading liquidity.”