Nov. 23 (Bloomberg) -- Deutsche EuroShop AG, Germany’s largest shopping-center owner, said it raised 132 million euros ($177 million) in gross proceeds from its rights offering, in its second capital increase this year.
Demand for the new shares represented a 6.4 times oversubscription rate and the proceeds of the sale will be used to finance the acquisition of the Billstedt-Center Hamburg and further shopping center investments, it said in a statement.
Commerzbank AG and DZ BANK AG managed the sale.
To contact the reporter on this story: Richard Weiss in Frankfurt at email@example.com.
To contact the editors responsible for this story: Benedikt Kammel at firstname.lastname@example.org.