Loading ...FSE Listings: Privately financed residential real estate IPO on the Frankfurt Stock Exchange Issue volume approximately €468 million, including greenshoe
Privately financed residential real estate IPO on the Frankfurt Stock Exchange Issue volume approximately €468 million, including greenshoe
The IPO in the Prime Standard by GSW Immobilien AG has set the stage in the regulated market for 2011 with its April 15th listing with a total of 24.6 million no-par value ordinary bearer shares were offered in the IPO. GSW receives gross proceeds of approximately €115 million from the issue.
FSE Listings Inc analysts believe that this is one of the first steps of many for Real Estate firms, Banks, Financial firms, Mortgage Firms, and Insurance firms to be coming to the public markets to access the capital that is continuously available for those who are listed.
“In terms of the offered volume, this IPO is the largest in 2011,” said Frank Gerstenschläger, member of the Executive Board of Deutsche Börse AG and responsible for the Xetra business area. “We are pleased that GSW Immobilien AG has selected the Prime Standard as transparency segment. In doing so, it joins around 350 companies that meet the highest transparency requirements, and visibly position themselves to national and international investors.”
“The IPO gives us permanent access to additional equity, with which we intend to realise our growth plans,” said Thomas Zinnöcker, Chairman of the Board of Management of GSW Immobilien AG. “Moreover, the successful refinancing of a securitised loan means we are financed at attractive conditions for the long term. We will thus be largely independent of potential interest rate fluctuations in the next few years.”
Deutsche Bank and Goldman Sachs International are lead managers.
From FSE Listings perspective, we expect an increase in the number of IPOs and would not be surprised to see Banking and Financial services IPOs in access of a billion euro, however, this milestone for the year has set the stage for others to follow.
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At FSE Listings we take companies public fast and finance them through Frankfurt stock exchange listings. We also perform Investor Relation services and have an affiliate program that pays some of the largest commissions. We are actually the only firm with an affiliate program that takes companies public onto a stock exchange. We also spend a lot of time in the free consultation period prior to signing on a client to ensure the listing is correct for them, and that they would in fact have the opportunity to list with us.