Zug Estates Holding AG, a spin-off from the Metall Zug Group which develops and manages property in the Zug region, on July 2, 2012 announced the listing of its shares on the SIX Swiss Exchange. It is the third new company joining SIX Swiss Exchange in 2012. A total of 315'136 registered shares were listed under the regulatory standard for real estate companies. Trading of the new shares opened at 1'191 franc, which corresponds to a free float market capitalization of the registered shares of 375 million franc. The company has been incorporated into the SPI and the SXI Real Estate indices.
The Zug-domiciled real estate group conceives, develops, markets and manages property in the Zug region, focusing on centrally located sites suitable for a wide range of uses and with potential for sustainable development.
The general meeting of Metall Zug AG held on June 22, 2012 approved the spin-off of the real estate business unit from industrial operations in the form of a special distribution of shares in Zug Estates Holding Ltd to the shareholders of Metall Zug AG. As a consequence of this resolution, with effect from July 2, 2012, the two companies Metall Zug AG and Zug Estates Holding Ltd will operate as separate exchange-listed companies with separate shareholders and management.
The board of directors of Zug Estates Holding AG comprises Heinz M. Buhofer (chairman), Hannes Wüest (vice chairman), Prof. Annelies Häcki Buhofer, Dr. Hajo Leutenegger, Heinz Stübi and Martin Wipfli. CEO Stephan Wintsch and CFO Gabriela Theus make up the management team of Zug Estates Holding AG. The decision to make the real estate unit formally independent should expand both companies’ market opportunities and enhance their development potential as well as providing greater transparency for investors.
Bank Vontobel Ltd acted as Zug Estates' listing agent during the IPO. The first two new companies listed on SIX Swiss Exchange in 2012, the trading group DKSH and Swiss Finance & Property Investment, had their IPOs in March and April, respectively.