ECM Real Estate Investments A.G. is bankrupted

real estate developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to othe ...

based in

Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...

, that was active mostly in

Czech Republic The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...

, but also in

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...

Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...

. Company was founded in 1991 by Michal Janků, he is now still its

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and through ECM Group N.V. largest shareholder (77%) of the company.ECM 2010 Annual Report
/ref> Company owned inter alia two tallest buildings in the Czech Republic - City Tower and City Empiria. In 2006 company went on

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

Prague Stock Exchange Prague Stock Exchange (PSE; cs, Burza cenných papírů Praha (BCPP)) is the largest and oldest securities market organizer in the Czech Republic. After a 50-year hiatus brought about by World War II and the Communist regime, it was reopened in ...

with price per stock 1,318 CZK (47 EUR), getting market capitalization 262.7 mil. EUR Stocks became part of

PX Index The PX Index (until March 2006 the PX 50) is a capitalization-weighted index of major stocks that trade on the Prague Stock Exchange. Selected as the starting exchange day (a benchmark date) for the Index PX 50 was 5 April 1994 and its opening valu ...

and eventually reached price 2,000 CZK per share. Mainly as result of late-2000s financial crisis company went bankrupt in May 2011 and to

liquidation Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistrib ...

since July 2011. In 2012 liquidation was changed to reorganization,https://isir.justice.cz/isir/doc/dokument.PDF?id=3960489 but reverted to liquidation in February 2013.Prague Monitor: Prague court declares developer ECM bankrupt
/ref> Before its bankruptcy, ECM was involved in the development of V Tower in Prague. BEAN

Financial data

References

{{Authority control Real estate companies of the Czech Republic Real estate companies of China Defunct companies of Luxembourg