Atrium Considers Secondary Listing on the Warsaw Exchange
The Vienna-listed, Jersey-based real estate company reviews a secondary listing at Warsaw Stock Exchange.
Atrium European Real Estate Ltd., a developer of shopping malls in eastern Europe, is “seriously reviewing” a secondary listing on the Warsaw Stock Exchange, Chief Executive Officer Rachel Lavine said. The company is evaluating what effect this would have on Atrium’s listings in Vienna and Amsterdam, Lavine said in a telephone interview today. The CEOcouldn’t say when a decision will be made.
Polish pension funds are allowed to invest no more than 5 percent of their assets abroad. This has attracted dual listings of companies including Czech utility CEZ AS, Mol Nyrt. of Hungary and Italy’s UniCredit SpA in Warsaw. Property developers Warimpex Finanz- und Beteiligungs AG and Plaza Centers NV also trade in the Polish capital, while fellow Austrian Immoeast dropped its Warsaw listing as part of a merger with Immofinanz AG in 2010.
The Warsaw Stock Exchange, the most rapidly developing market in the region, had the most new listings in Europe last year. A total of 189 companies sold shares in initial public offerings in Poland last year, more than for all western European markets combined and second after China among emerging countries, according to data compiled by Bloomberg. The average share sale in Poland was $ 16m, compared with $ 252m in western Europe.