Grand City Properties extends German property ECM run with €180m ABB

Grand City Properties, a German property firm, raised €180m through a primary ABB on Monday night, continuing a busy year for the sector in 2013.

  • By Andrew Griffin
  • 03 Dec 2013

The company sold 27m new shares, 30% of the company's existing share capital, for €6.50. That was a 4.4% discount to Monday's €6.80 close.

The company will use the proceeds to pay for acquisitions. IT is in the process of buying various under-performing portfolios worth over €250m, it said.

Grand ...

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