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German residential property company Domicil Real Estate readying for IPO

German real estate services and investment company Domicil Real Estate AG is getting ready for an IPO on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange.

The company, which focuses on residential real estate, is planning a primary offering of approximately €150 million to finance its real estate acquisitions and to broaden its business. The planned offering is expected to close by 2019-end, subject to market conditions.

Shares owned by founder and CEO Khaled Kaissar will be sold in the planned IPO, with additional shares to be issued for a market standard greenshoe option. Kaissar will remain the largest shareholder in the company after the IPO.

Signal Iduna Gruppe and Die Bayerische will acquire €15 million worth of shares in the IPO through their investment companies.

In the 2018 financial year, the company reported consolidated revenues of €366.6 million, EBIT of €29.9 million and a net annual profit of €12.2 million.

Citigroup is the sole global coordinator and joint book runner, while Baader Bank is acting as joint book runner.