PIK to float for $2bn in unique surge of property share sales

24 May 2007

Russian property developer PIK has launched a $1.8bn-$2.2bn IPO, set to be the world’s second biggest listing in the real estate sector, and the largest from a non-Reit.

The deal comes amid a torrent of equity capital raising in the property sector worldwide. In this week alone, a larger sum of real estate share offers was sold or announced in Europe than the $9bn issued in all of 2006.

Austrian developer Immoeast completed its Eu2.835bn rights issue, ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial