Vivacon AG

euro adhoc: Vivacon AG
Vivacon AG: IPO of Vivacon German Properties PLC postponed

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Cologne, 23 June 2006. Vivacon AG (ISIN DE0006048911) announces that the planned IPO of Vivacon German Properties PLC has been postponed due to the unsatisfactory market environment for IPOs currently.

Despite substantial interest from international investors for the investment case of Vivacon German Properties PLC, demand at the end of the bookbuilding phase was not sufficient for a successful listing in the short term. The management of both companies has therefore decided to postpone the IPO until a point in time when the market environment for IPOs is more favourable.

The two portfolios which have been reserved for Vivacon German Properties PLC with a combined size of 4,800 residential units will be sold on to an institutional investor on leasehold terms in the short term.

Vivacon will continue to run its successful business model of marketing residential portfolios under leasehold terms which it pioneered ten years ago. The postponement of the IPO is not expected to have a negative impact on the full-year guidance of Vivacon AG as margins in the property trading business with third parties remain at a consistently high level and trading gains should more than compensate for any short term reduction in asset management fee income. The management of Vivacon AG continues to expect to trade at least 15,000 residential units in the full year 2006.

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ots Originaltext: Vivacon AG
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Further inquiry note:
Sven Annutsch
Head of Corporate Finance
Tel: + 49 221 130 5621 630

Lars Schriewer
Director Communication
Tel: + 49 221 130 5621 631

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 130 5621 950

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    CDAX, SDAX, Prime All Share, Classic All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / official dealing

Weitere Meldungen: Vivacon AG

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