The trading volume of the IMMOFINANZ share also showed solid development: From May 2005 to April 2006 shares with a total value of EUR 2.2 billion were bought and sold over the stock exchange. This represents an increase of 122% over the 2004/05 Business Year, and makes IMMOFINANZ one of the most liquid – which means most frequently traded – shares on the Vienna Stock Exchange. Based on stock market turnover 2005, IMMOFINANZ ranks number 11 in Vienna – an impressive standing for a security that is suitable only for long-term investment and not for short-run speculation.

This high liquidity is important for IMMOFINANZ shareholders because it gives them the security that they can easily sell their shares at any time. This is especially important for institutional investors, who substantially increased their holdings during the reporting period, because they generally trade in larger blocks of shares.

The IMMOFINANZ shareholder structure underwent a fundamental change during the 2005/06 Business Year. The number of shareholders rose by roughly 20,000 to approximately 100,000. Institutional investors, in particular investment funds and pension funds, increased their stakes in the company. The share issued after the end of the reporting period led to a further increase in the total holdings of institutional investors.