German listed residential landlord Westgund has completed a €140 mln capital increase to support its expansion plans.
German listed residential landlord Westgund has completed a €140 mln capital increase to support its expansion plans.
Some 40 million new shares have been placed with existing and new investors at €3.50 per share.
Westgrund said that the share issue was substantially oversubscribed, reflecting the strong interest from investors.
The company's assets are concentrated in the Berlin metro area, Lower Saxony and the region of Dresden, Halle, Leipzig. The company's medium-term plan is to enlarge its housing stock to between 30,000 and 40,000 apartments.
