Bloomberg News

Heijmans Rises Most Since 2011 on Dutch Bill

February 13, 2013

Heijmans NV, the Dutch construction company active in Belgium and Germany, rose the most in more than a year after the government presented a revised bill aimed at reviving the nation’s slumping housing market.

Heijmans rose as much as 10 percent, the biggest intraday rise since Nov. 28, 2011, to 7.99 euros. The company traded at 7.86 euros as of 12:53 p.m. in Amsterdam, valuing it at about 173 million euros ($233 million).

The Dutch government lowered the value-added tax for the refurbishing of houses to 6 percent from 21 percent for the duration of a year, Housing Minister Stef Blok said to reporters today in The Hague. The government also extended the period to pay down mortgages and capped the maximum increase in rental rates at 4 percent for those earning more than 43,000 euros.

Construction companies Royal BAM Group NV gained as much as 9 percent, the biggest intraday gain since Dec. 22, 2011, and Ballast Nedam NV added as much as 8 percent, the most since Jan. 16.

To contact the reporter on this story: Fred Pals in Amsterdam at fpals@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net


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