PresseBox
Pressemitteilung BoxID: 374193 (DEMIRE Deutsche Mittelstand Real Estate AG)
  • DEMIRE Deutsche Mittelstand Real Estate AG
  • Lyoner Straße 32
  • 60528 Frankfurt/Main
  • http://www.demire.ag
  • Ansprechpartner
  • Werner Rüppel
  • +49 (69) 9055055-2

Conversion into joint stock corporation (AG) ' MAGNAT Real Estate AG' implemented

(PresseBox) (Frankfurt am Main, ) Filing in the commercial register today signifies conversion of publicly listed real estate company MAGNAT from the legal structure of a GmbH & Co. KGaA to that of a joint stock corporation. MAGNAT now operates as MAGNAT Real Estate AG (ISIN DE000A0XFSF0). A resolution was passed to convert MAGNAT to a joint stock corporation at the company's annual shareholders' meeting on 29 October 2009. In the course of the conversion, it was necessary to reapply for admission to list the shares of the company for trading on the Frankfurt Securities Exchange. To that end, a prospectus has been drawn up by the company, which is available on the website of MAGNAT (www.magnat-reop.com). The prospectus was approved by the German Financial Supervisory Authority (BaFin) on 16 September 2010. All 13,894,651 shares of MAGNAT Real Estate AG were approved for trading on the Frankfurt Securities Exchange in the regulated market (General Standard) by resolution of Deutsche Börse AG of 17 September 2010. Trading of the shares of MAGNAT Real Estate AG will begin on Monday 20 September 2010 under the former ISIN and securities number of MAGNAT Real Estate Opportunities GmbH & Co. KGaA. Trading of MAGNAT share will not take place in the period between this Friday at 12 pm and Monday 20 September 2010 for technical reasons.

CEO of MAGNAT Jan Oliver Rüster: "I am pleased that we are now a joint stock corporation. As a joint stock corporation, stronger interest will be displayed in MAGNAT, in particular by institutional investors."

DEMIRE Deutsche Mittelstand Real Estate AG

MAGNAT Real Estate AG is the first publicly traded real estate company in Frankfurt to focus on real estate development in Eastern European, Austrian and German metropolitan areas.

MAGNAT has evolved into an integrated real estate group. The company covers the entire value chain - from acquisition across development through to the sale of projects and land. In addition, the Group provides real estate asset management for third parties in particular via its subsidiaries MAGNAT Asset Management GmbH and MAGNAT Asset Management Deutschland GmbH.

The strategy of MAGNAT is designed to exploit inefficiencies in real estate markets. Unlike the traditional 'Buy & Hold' approach, MAGNAT takes a 'Develop & Sell' or 'Buy & Sell' approach, which focuses on real estate development supplemented by portfolio trading.

MAGNAT investors participate in development returns in Eastern Europe, South-Eastern Europe, the Commonwealth of Independent States (CIS) as well as in Germany and Austria.