CEO Bruno Ettenauer and CFO Wolfhard Fromwald told a news conference that the issuance of a convertible bond last year raised nearly $366 million in fresh capital to bring total liquidity on balance sheet to some $677 million. This compares with its $5 billion portfolio, including its German Vivico unit acquired two years ago, and concentrated on Germany, Austria and central and eastern Europe.

"We are actively looking for opportunities in the market, concentrating on our day-to-day business where we find competence that we can use and integrate," Ettenauer said. "This would be firms in the main, not individual projects."

Fromwald said CA stock, trading on the exchange at less than half its net asset value of nearly $24.38 per share, has been affected by turbulence in Austrian listed real estate in general, which has left Vienna property firms with a poor reputation. In addition, CA's developments, worth about $1.3 billion, are inadequately rated by investors. Its stock was last trading at just more than $9.48 per share. The group also said it will use its project pipeline to build assets.