Vonovia raises €744m in block despite red day for markets

By Aidan Gregory, Sam Kerr
14 May 2019

Vonovia, the German residential property company, returned to the market on Monday to sell €744m of new shares on an evening where markets had largely sold off because of fears about growing tensions between the US and China.

JP Morgan and Morgan Stanley were global coordinators on the deal and Credit Suisse a bookrunner.

The deal was equivalent to around 2.6% of Vonovia’s market capitalisation on the Frankfurt Stock Exchange at launch.

The books were covered in just over 40 minutes, according to ...

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