Germany's Godewind Immobilien has raised €375 mln from selling 93,750,000 newly-issued shares on the Frankfurt Stock Exchange, at an offer price of €4.00 per share.
The company, which focuses on office, retail and logistics assets, said it intended to invest the net proceeds from the IPO in portfolio deals across Germany in the near term. In addition to IPO proceeds, it may use additional or existing debt financing and issue further shares for its acquisitions pipeline.
'This IPO marks a milestone on our way to developing Godewind Immobilien into a leading publicly traded real estate company. We will invest the proceeds from the IPO in German commercial real estate. We have already identified attractive off-market acquisition opportunities with a total of €3.7 bn,' said CEO Stavros Efremidis.
Godewind's shares are scheduled to begin trading on 5 April on the regulated market of the Frankfurt Stock Exchange.
Citi and JP Morgan acted as joint global coordinators and worked together with Berenberg and Société Generale Corporate & Investment Banking as joint bookrunners.
