LEG takes strides towards €1bn IPO
LEG Immobilien launched a €1bnFrankfurt IPO on Monday, wasting no time as its owners seek to capitalise on demand for German residential property, one of 2012’s hottest sectors. The investor response was immediate with the first week of investor education meetings booked by at least one of the leads filling up within a couple of hours.
Falls of 2.8%-3.5% in LEGs key comparables on Monday showed investors perhaps making room for the new stock in portfolios, said bankers, akin to the way that Russias MTS sold off when Megafon launched its IPO in November.
LEG, owned by Whitehall funds and Perry Capital after being bought
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