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Instone Real Estate eyes IPO to fund growth

Instone Real Estate Development GmbH & Co. KG confirmed that it intends to raise capital via an IPO or a private placement of shares, Reuters reported.

In order to fund growth initiatives, it is analyzing various strategic financing options alongside parent company Activum SG Capital Management Ltd. According to sources privy to the talks, the company tapped Deutsche Bank in September to work on a plan and stood to register a market capitalization in excess of €500 million from an initial stock market flotation in Frankfurt.

Reuters also noted a statement from the company about property acquisitions in Hamburg and Munich, which raised its real estate portfolio valuation to €3.4 billion.

The former HOCHTIEF Aktiengesellschaft unit formart GmbH & Co. KG merged with its peer GRK to create the residential property developer Instone.