Christoph Aublinger
Long only, value, commodities

Immofinanz AG: Potential After Buwog's Spin-Off?

A lot of stock prices crashed in the aftermath of the financial crisis. But a loss of more than 95% of the market capitalization was even considered to be special then. When the then CEO Karl Petrikovic was forced to leave Immofinanz, an Austrian real-estate company, and a funding gap of more than € 500 million was discovered just one month after the crash of Lehman Brothers, it seemed that it were only a matter of weeks till the company would go bankrupt. Petrikovic, who was responsible for the company's bad situation, was later convicted to a 6 years prison sentence because of breach of trust. But things went better for Immofinanz. Eduard Zehenter, who has earned himself...

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