Deutsche Annington prepares for share listing -sources
FRANKFURT Feb 21 (Reuters) - Germany's biggest real estate firm Deutsche Annington is preparing a listing of its shares before the summer, which could yield as much as 1.5 billion euros ($2 billion), two persons familiar with the company's plans said on Thursday.
The target is to have a listing around July 4, they said.
The real estate firm has chosen Morgan Stanley and JP Morgan to manage the operation.
Deutsche Annington owns more than 210,000 flats in Germany with a total value of about 10 billion euros and could become the first real estate company in Germany's blue-chip index .
The share offering would also be the second by a real estate company this year. Earlier this month, LEG Immobilien debuted on the Frankfurt stock exchange. It marked Germany's second-largest listing in five years, valuing LEG Immobilien at 2.3 billion euros.
Deutsche Annington, which is part of Terra Firma Capital Partners, declined to comment. Morgan Stanley and JP Morgan could not immediately be reached for comment.
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