Bloomberg News

Immofinanz Wins Shareholder Permit to Sell More Convertibles

September 28, 2011

Sept. 28 (Bloomberg) -- Immofinanz AG, eastern Europe’s biggest real estate group, won permission from shareholders to sell convertible bonds swappable into as much as 20 percent of its outstanding stock during the next five years, according to Sandra Bauer, a spokeswoman for the company.

Immofinanz’s owners approved the permit, which also caps the convertible bond issuance at 1.2 billion euros, at the company’s annual general meeting in Vienna today, Bauer said by e-mail.

The shareholders also approved payment of a dividend of 10 cents a share for the 2011 fiscal year, it said.

--Editor: Zoe Schneeweiss

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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