S Immo AG Faces Sell Recommendation from NuWays AG

NuWays AG has classified S Immo AG with a “Sell” recommendation. The updated target price for S Immo AG is set at EUR 22.05 per share. This recommendation follows the announcement by IMMOFINANZ regarding the cash compensation for minority shareholders of S IMMO, also set at EUR 22.05 per share. The valuation, conducted by PwC and verified by BDO Austria, considers this a fair offer, with an 11% discount to the company’s EPRA NTA of EUR 24.86 per share.

The resolution for the squeeze-out of minority shareholders will be discussed at an Extraordinary General Meeting of S IMMO scheduled for 14 October. The Vienna Stock Exchange is expected to initiate the delisting of S Immo shares in Q4. NuWays AG’s reduced price target reflects the cash compensation and the audit, advising remaining shareholders to sell.