PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Berlin housing firm GSW postpones IPO
Berlin-based housing company GSW has cancelled its planned flotation, saying it was postponed due to volatility and uncertainty in global stock markets. "The latest macro-economic developments have brought a significant worsening in the capital market envrionment," GSW said in a statement. "After evaluating current conditions .. the GSW management board has decided to postpone the planned stock market flotation." The IPO was launched on 26 April after the Berlin City Parliament lifted restrictions. First listing was scheduled for Friday. GSW is owned by private equity group Cerberus and Goldman Sachs' real estate investment arm Whitehall Funds. The IPO was due to raise around E450m, and up to E520m had demand for its shares been solid. (See upcoming PIE Editions for full story)