DLA Piper has been advising the reconstituted supervisory board of LEG Immobilien AG in connection with the change in legal form and stock market flotation of LEG Immobilien AG on matters of equity and capital market law.
LEG Immobilien AG has today commenced its listing on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. In consideration of the over-allotment 30.453.980 shares were issued overall. The issue price was 44,00 euros per share. So the placement volume is about 1.2 billion euros resp. 1.3 billion euros in the case of completely exerted greenshoe option. The bank consortium consisted of the global coordinators and joint bookrunners Goldman Sachs and Deutsche Bank as well as the co-lead managers Berenberg, Commerzbank, Erste Group Bank and Kempen & Co. The LEG shares were offered publicly to private investors in Germany and Luxembourg as well as to institutional investors in Germany and abroad by private placement.
The LEG Group with some 91,000 housing units is one of the largest residential property companies in Germany. The company is in an attractive business field in the economically strong market of North-Rhine Westphalia and is striving to acquire selected portfolios or real estate companies in order to continue consistently implementing its growth strategy.
The team from DLA Piper included the partners Kerstin Schnabel and Dr Andreas Meyer-Landrut (both Corporate, Equity, Cologne) as well as Eyke Grüning (Finance & Projects, Capital Markets, Frankfurt am Main). They were supported by counsel Dr Christian Schneider (Insurance, Cologne) together with the associates Dr Cornelia Wendel and Bettina Haider (both Corporate, Equity, Cologne).
