DGAP-News: WESTGRUND Aktiengesellschaft / Key word(s): Miscellaneous
WESTGRUND Aktiengesellschaft:
31.03.2015 / 10:49
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Westgrund AG: Stock index
Westgrund included in SDAX
- Result of growth, capital increase and higher free float
Berlin, 31 March 2015 - Westgrund AG has been included in the SDAX by the
German stock exchange (Deutsche Börse AG). The SDAX index comprises 50
smaller companies who follow those noted in the MDAX concerning market
capitalisation and stock market turnover. Effective April 1, Westgrund AG
thus belongs to the circle of the 130 most important quoted companies in
Germany.
Sascha Giest, Co-CEO and CFO of Westgrund AG, commented the decision: "We
are proud to be included into the SDAX as it is an acknowledgement of our
company's successful growth during the last few years. It also shows that
we have not only progressed operationally, but are meanwhile also
recognised in a completely different way by the capital markets."
In 2014 Westgrund AG had roughly tripled revenues, earnings and market
value of investment properties following the largest acquisition in the
company's history. "It was the major growth step", said his management
board colleague Arndt Krienen, "we have ever taken. And following one of
our company's principles, we financed it to roughly one third through a
capital increase." As a consequence, the number of shares outstanding has
more than doubled. Moreover, in the course of the capital increase free
float increased from formerly 20 percent to more than 50 percent, as large
shareholders made room for new participations. Thus the fungibility of
Westgrund shares increased and weight and perception of Westgrund AG in the
capital market rose correspondingly.
Contact:
Dr. Rolf-Dieter Grass
e-mail: grass@westgrund.de
Phone: +49 30 2000 91429
Fax: +49 30 639619228
About Westgrund AG:
Westgrund AG focusses on the acquisition, asset and property management of
residential property. After the major acquisition of the company's history
in 2014, the overall portfolio of residential estate more than tripled. The
company is active in Germany only, with focus on the northern and eastern
parts of the country. Westgrund AG invests predominantly in residential
property in mid- and smaller-size cities with a stable socio-economic
environment. The target group consists of tenants with medium to low income
whom Westgrund offers affordable living space in standard quality.
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31.03.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: WESTGRUND Aktiengesellschaft
Joachimsthaler Strasse 34
10719 Berlin
Germany
Phone: +49 30 2000 914 20
Fax: +49 30 639 619 228
E-mail: krienen@westgrund.de
Internet: www.westgrund.de
ISIN: DE000A0HN4T3
WKN: A0HN4T
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Stuttgart
End of News DGAP News-Service
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339749 31.03.2015
DGAP-News: WESTGRUND Aktiengesellschaft:
| Source: EQS Group AG