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German property firm TLG to unveil IPO plans -sources
2014年9月10日 / 下午1点52分 / 3 年前

German property firm TLG to unveil IPO plans -sources

FRANKFURT, Sept 10 (Reuters) - German commercial real estate company TLG Immobilien aims to unveil plans for an initial public offering next week, several sources familiar with the situation told Reuters on Wednesday.

The move adds to a rush of German companies aiming for a stock market debut in the coming weeks, with e-commerce firms Zalando and Rocket Internet also announcing their flotation plans.

TLG’s owner, U.S. investor Lone Star, aims to raise about 500 million euros ($645.30 million) with the placement, valuing the company at about 1.5 billion euros including debt, the sources said.

Lone Star and the banks mandated to handle the placement, UBS and JP Morgan, declined to comment. TLG was not immediately available for comment.

Lone Star bought TLG for 1.1 billion euros in 2012 from a government agency that organises the privatisation of east German companies in the wake of the reunification of Germany in 1990.

TLG manages about 800 offices, retail shops and hotels in cities like Berlin, Dresden and Rostock. (1 US dollar = 0.7748 euro) (Reporting by Kathrin Jones and Arno Schuetze, writing by Jonathan Gould; editing by Susan Thomas)

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