Business
Considered listing on WSE
Considered listing on WSE.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n Plaza Centers N.V.\n06 August 2007\n\n\n6 August 2007\n\n PLAZA CENTERS CONSIDERS DUAL LISTING\n ON THE WARSAW STOCK EXCHANGE\n\n\nPlaza Centers N.V. ('Plaza' or the 'Company'), a leading Central and Eastern\nEuropean ('CEE') emerging markets property developer, announces today that it is\ncurrently exploring the possibility of listing its shares on the Warsaw Stock\nExchange ('WSE'), thereby achieving a dual listing in London (where it is listed\non the Main Board of the London Stock Exchange) and Warsaw.\n\n\nFrom 2000 to date, the Company has built, managed and sold a total of seven\nshopping centres located across Poland. In addition, it is preparing to\ncommence construction on a further three shopping and entertainment centres\nlocated in Suwalki, Torun and Zgorzelec and continues to seek further investment\nopportunities in the country.\n\n\nThrough these activities, Plaza has built a strong reputation and profile in the\nCEE and its management has become aware of growing investor appetite, both in\nPoland and the wider CEE region, to invest in the Company through a local Stock\nExchange.\n\n\nIn response to this demand, the board of the Company is currently considering\nthe benefits to all existing and potential shareholders of a dual listing on the\nWSE. If the final decision on the dual listing is made, the admission to\ntrading on the WSE will be sought on the basis of the prospectus that the\nCompany intends to submit to the Netherlands Authority for the Financial Markets\n(the Stichting Autoriteit Financiele Markten (the ''AFM'') for a formal\napproval.\n\n\nPlaza will update its shareholders in due course as appropriate.\n\n\nCommenting on its intentions, Ran Shtarkman, President and CEO of Plaza Centers\nN.V., said:\n\n\n'Plaza's activities are extremely well known within the region and we have\nreceived a number of enquiries from investors in Poland and Central and Eastern\nEurope wishing to invest in our company. The WSE has been extremely active over\nthe past few years, with fast-increasing levels of investment activity from both\ninstitutional (particularly pension and mutual funds) and retail investors. In\nlight of this and the likely benefits it will bring to all our shareholders in\nterms of increased liquidity in the shares, we believe this dual listing could\nbe an attractive strategic option for the...