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GODEWIND Immobilien seeks €450M in German IPO

Real estate business venture Godewind Immobilien AG is looking to raise €450.0 million in an IPO on the Frankfurt Stock Exchange.

The company is planning to issue up to 112.5 million shares at €4.00 apiece. The offering will include an option for up to 25.0 million additional shares, bringing total gross proceeds to up to €550.0 million.

The company intends to use the net proceeds from the offering to purchase commercial real estate properties in Germany and has earmarked off-market prospects with a total estimated value of €3.7 billion.

The offer period will start March 12 and is anticipated to end March 27, with trading on the Frankfurt Stock Exchange to begin April 5.