The PIAG shares were exchanged for this purpose in the ratio of ten to 3.701098 in UMB shares. In the next Annual General Meeting the company name should be changed to "UMB Development AG".
The largest shareholder of UBM Development is the syndicate Ortner-Strauss, which holds the majority stake in the construction company Porr. The widely held stock was increased to over 40 percent. The UBM Board promised a capital increase for this year, leading to a rise of the free float could to over 50 percent, according to industry experts.
The UBM shares are going to be traded on the market stand Continuous of the Vienna Stock Exchange, the switch from market stand Auction takes place at the same time, it says in the press release.
Press Release & Picture: http://ubm.at/de/news-presse/presseaussendungen/artikel/2015/02/ubm-downstream-merger-erfolgreich-abgeschlossen/
