Deutsche Bank has announced its appointment as depositary bank for the sponsored Level I American Depositary Receipt (ADR) program of IMMOFINANZ AG (IMMOFINANZ).
IMMOFINANZ is one of the leading listed property companies in Europe and is included in the leading ATX index of the Vienna Stock Exchange. Since its founding in 1990, the company has compiled a high-quality property portfolio that now comprises more than 1,830 investment properties with a carrying amount of approximately EUR 9.81 billion. The core business of IMMOFINANZ covers the acquisition and management of investment properties, the realization of development projects and the sale of objects. IMMOFINANZ concentrates its activities in the retail, office, logistics and residential segments of eight regional core markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Russia.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to be acting as depositary bank on this ADR transaction with IMMOFINANZ. We look forward to providing this client with the highest level of service for their newly-launched program.”
*Source: IMMOFINANZ AG (May 2012)