Frankfurt-listed Aroundtown Property, Germany's largest publicly listed commercial real estate company, has raised €450 mln from the placement of 75 million new shares.
Following an accelerated book building process on 19 October, Aroundtown has increased the company's total share capital to around €9.48 mln. The offer price per new share was fixed at €6. The new shares were placed privately.
Aroundtown said it intended to use the net proceeds from the capital increase primarily to fund the company's growth strategy.
The company focuses on value-add and income generating properties primarily in Germany and the Netherlands.
