FRANKFURT Oct 22 German real estate group LEG
is considering an initial public offering of shares in the
coming months that could value the company at close to 5 billion
euros ($6.54 billion), two people familiar with the situation
told Reuters on Monday.
"Depending on the market climate, the second quarter of 2013
is certainly doable," one source said, adding that banks would
be selected for a stock exchange listing by the end of this
Another said that an IPO first required a deal on
refinancing the company's debt.
LEG owned roughly 90,000 residential apartments at the end
of last year, which were valued at about 4.7 billion euros. The
number of apartments in its portfolio make it larger than listed
peer Deutsche Wohnen.
German competitor Deutsche Annington also is looking to
float on the stock market, a banker familiar with the sector
said: "This could speed up the process - whoever is first has a
Both LEG and its owner Goldman Sachs declined to