Hengeler Mueller advises Deutsche Annington Immobilien SE management on IPO
11. July 2013
On 11 July 2013, Deutsche Annington Immobilien SE successfully completed its IPO with the initial listing of its shares on the Frankfurt Stock Exchange.
With more than 180,000 residential units, Deutsche Annington Immobilien Group is one of the leading real estate companies in Europe and Germany’s largest private-sector residential real estate company in terms of portfolio value and number of units. Deutsche Annington operates nationwide with 97% of its portfolio being situated in the old German federal states (alte Bundesländer) including Berlin. Deutsche Annington employs about 2,400 employees.
A total of 34,848,485 shares were placed including 24,242,425 new shares from a capital increase, 6,060,606 shares from the holdings of the selling shareholder and 4,545,454 shares from the selling shareholder as part of an over-allotment (greenshoe option). The overall placement volume amounts to approximately EUR575m including full exercise of the greenshoe-option. At the issue price of EUR 16.5 the overall market capitalization amounts to EUR 3.7 bn. The shares were allocated to institutional investors by way of an accelerated bookbuilding.
Hengeler Mueller provided comprehensive legal advice to the management of Deutsche Annington Immobilien SE on capital market and corporate issues. The Hengeler Mueller team included partners Reinhold Ernst and Dirk Busch (both Capital Markets and Corporate, Düsseldorf).