February 2, 2018 / 7:24 AM / 8 months ago

Instone shares worth up to 519 million euros on offer in Frankfurt listing

(Corrects to read 519 million in headline, paragraph 1)

FRANKFURT, Feb 2 (Reuters) - Instone Real Estate Group, a German residential property developer, said shares worth up to 519 million euros ($648 million) would be placed in its listing on the Frankfurt stock exchange, which it has scheduled for Feb. 15.

The placement will comprise 7 million new shares from a capital increase and 13.35 million shares from fund holdings by ActivumSG Capital Management Ltd at a price of 21.50 to 25.50 euros each, Instone said on Friday.

In addition, up to 3.05 million shares from ActivumSG have been earmarked for over-allotments.

$1 = 0.8012 euros Reporting by Maria Sheahan; editing by Jason Neely

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