Peach Property Group has postponed the IPO of its indirectly owned German subsidiary on the Frankfurt Stock Exchange.
Peach Property Group has postponed the IPO of its indirectly owned German subsidiary on the Frankfurt Stock Exchange.
The Zurich-based residential developer said it will continue ongoing talks with 'strategically attractive investors' in relation to 'alternative forms of cooperation and financing' to accelerate the growth of Peach Property Group (Deutschland).
When contacted by PropertyEU, a company spokesperson declined to elaborate on the nature of the talks, saying further announcements would be made when appropriate.
The IPO, which was set to take place this week in a move aimed at raising up to EUR 40 mln, has been postponed but not necessarily cancelled, he added.
The company said in a statement that all previously acquired projects in the German subsidiary's pipeline can be financed from the group's internal resources.
Peach Property Group is headquartered in Zurich and also has a branch office in Cologne. The group's projects have a target marketing volume of approximately EUR 664 mln.
