Unitech, India's largest publicly traded real estate firm, has placed 360 million ordinary shares at 100 pence each with investors in its initial public offering on the London Stock Exchange's Alternative Investment Market. Deutsche Bank has been granted an over-allotment option to sell up to a further 54 million ordinary shares at the offer price. Unconditional dealing in the shares will begin on 20 December.
Unitech, India's largest publicly traded real estate firm, has placed 360 million ordinary shares at 100 pence each with investors in its initial public offering on the London Stock Exchange's Alternative Investment Market. Deutsche Bank has been granted an over-allotment option to sell up to a further 54 million ordinary shares at the offer price. Unconditional dealing in the shares will begin on 20 December.
Unitech, India's largest publicly traded real estate firm, has announced plans to raise over EUR 532 mln through a listing of its new real estate investment company, Unitech Corporate Parks, on the London Stock Exchange's Alternative Investment Market (AIM).
Unitech Corporate Parks, incorporated in the Isle of Man, will invest the proceeds of the IPO in the Indian commercial real estate sector, beginning with the acquisition of majority stakes in six commercial real estate development projects. The company will probably co-invest alongside Unitech Limited and its affiliates. Unitech Limited announced a market capitalisation of $8.9 bn (EUR 6.7 bn) this week, confirming its place as the largest listed real estate developer in India.
Earlier in December, Yatra Capital become the first Indian real estate company to list on the Euronext stock exchange in Amsterdam.
