PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Berlin GSW IPO starts; one of Germany's biggest in real estate
Subscription open today for shares in Germany's biggest real estate IPO in several years, the Berlin-based GSW housing group. It could raise nearly E800m after the group last week received final approval for a full flotation from the city government. Shares will be offered in a range between E15 and E19, giving a full value on the company of E670m to E790m, which compares to a company estimate of net asset value of E950m. The discount corresponds to the average in German real estate companies in the current market. (See upcoming PIE Editions for full story)