Hiag pushes on as peer postpones and sector is scrutinised

house right size
By Andrew Griffin
08 May 2014

Swiss property firm Hiag Immobilien launched bookbuilding on its IPO on Tuesday, meeting a tough market as analysts worried about the real estate sector in Switzerland and as IPOs for a European housing firm and an unrelated energy technology were postponed.

Hiag, which was formed through a spin-off in 2008, redevelops industrial buildings into housing.

Swiss house prices fell in the first quarter of 2014, and analysts said that a bigger price correction could be on its way. Single-family homes were hit particularly hard, with an annualised drop of 4%, the most in 17 ...

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