German property developer Instone targets March IPO: sources

FRANKFURT (Reuters) – German residential property developer Instone Real Estate is targeting a flotation on the Frankfurt stock exchange in March, adding to a growing pipeline of spring listings in Germany, people close to the matter said.

The company is working with Morgan Stanley, BNP Paribas and Unicredit as bookrunners on the deal alongside global coordinators Deutsche Bank and Credit Suisse, the sources said.

Instone and the banks declined to comment or were not immediately available for comment.

The transaction, which may value the company at 700 to 800 million euros ($845-970 mln), joins Siemens’ Healthineers unit and healthcare group Dermapharm, both of which plan to go public before Easter as well.

Reporting by Arno Schuetze and Alexander Hübner; Editing by Georgina Prodhan

Filed in: Top News Tags: 

You might like:

More than 10 percent of $3.7 billion raised in ICOs has been stolen: Ernst & Young More than 10 percent of $3.7 billion raised in ICOs has been stolen: Ernst & Young
Exclusive: Ackman cuts staff, shuns limelight as he seeks to turn around fund Exclusive: Ackman cuts staff, shuns limelight as he seeks to turn around fund
Hedge fund Third Point pushes Nestle to do more faster: letter Hedge fund Third Point pushes Nestle to do more faster: letter
New Ocado ecommerce deal turns screw on bearish hedge funds New Ocado ecommerce deal turns screw on bearish hedge funds
Stock-focused hedge funds post biggest gains among top performers Stock-focused hedge funds post biggest gains among top performers
U.S. hedge fund Tiger Global has invested more than $1 billion in Barclays: FT U.S. hedge fund Tiger Global has invested more than $1 billion in Barclays: FT
Morgan Stanley raises targets, but Wall Street wants more Morgan Stanley raises targets, but Wall Street wants more
Ex-Bank of America executive Malik to launch fund advisory firm Ex-Bank of America executive Malik to launch fund advisory firm

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.