FRANKFURT Dec 4 Deutsche Bank said
on Wednesday it had placed 15 million shares in Gagfah
, at 10.15 euros apiece on behalf of the German real
estate group's largest shareholder Fortress Investment Group
According to Thomson Reuters data, Gagfah has 216 million
shares outstanding, which means a 6.9 percent stake was placed
on the open market.
The shares extended losses to trade 4.3 percent lower at
10.16 euros at 0957 GMT.
Fortress holds a 48.2 percent stake in the company, Gagfah's
The placement was originally planned at up to 10 million
(Reporting by Ludwig Burger; editing by Victoria Bryan)