FRANKFURT Feb 21 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.