Pursuits
Terra Firma Unit to Raise $1.5 Billion in German Homes IPO
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Deutsche Annington Immobilien AG, Germany’s largest residential landlord, plans to raise about 1.1 billion euros ($1.5 billion) in the second initial public offering in the country’s real estate industry this year.
Deutsche Annington will receive at least 400 million euros from the share sale to pay debt, the Bochum-based company said in a statement today. The shares will begin trading in Frankfurt on July 3 and will be priced from 18 euros to 21 euros, valuing the company at about 4.3 billion euros.