Deutsche Wohnen Declines on Plan to Increase Share Capital

Deutsche Wohnen AG (DWNI), Germany’s third- largest publicly traded residential landlord, fell the most in almost six weeks after announcing a plan to increase its share capital by a maximum of 20.5 million euros ($28 million).

The shares dropped as much as 4.7 percent. Deutsche Wohnen will raise its capital to as much as 102.3 million euros by offering new stock to its shareholders, according to a statement today. The Frankfurt-based company’s net income climbed to 2.78 million euros in the third quarter from 1.99 million euros a year earlier, according to a separate statement.

Deutsch Wohnen was down 52 cents, or 5.6 percent, at 10.76 euros at 11:10 a.m. in Frankfurt, the most since Oct. 4. The shares have dropped less than 1 percent in the past six months, while the CDAX Performance Index has lost 18 percent.

To contact the reporters on this story: Andrew Blackman in Berlin at ablackman@bloomberg.net; Mariajose Vera in Munich at mvera1@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.