Conzzeta's Plazza AG launches on the Zurich Stock Exchange
Industrial group Conzzeta has bundled its non-operating real estate and today floated it on the stock exchange in the form of the newly formed Plazza AG. The registered shares, which are listed on the SIX Exchange in Zurich, began trading at an opening price of CHF 216/share and were quoted at CHF 222.40/share shortly afterwards. The price is currently a good CHF 208/share, around 6.5 percent lower than the previous daily high. Plazza's real estate portfolio, valued at around CHF 462 million, is primarily located in the Zurich economic area.
Zurich Stock Exchange (Photo: Wikipedia Commons)
The previous Conzzeta shareholders received four split Conzzeta shares and four Plazza shares per share free of charge. The registered shares of Plazza AG were allocated to the shareholders of Conzzeta AG in proportion to their current shareholdings at a ratio of 1:1. The Plazza share capital amounts to CHF 1,035,000 and is divided into 1,827,000 category A registered shares with a par value of CHF 0.50 each and 1,215,000 category B registered shares with a par value of CHF 0.10 each. The share capital of Conzzeta AG was reduced by the same amount. (mr)
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