LEG Immobilien AG (ISIN: DE000LEG1110) became the first company to join the Prime Standard of the Frankfurt Stock Exchange this year on 1 February. The placement volume in shares at the IPO totalled 26,481,722. The placement price was €44.00 and the initial listing price €44.50. With an issuing volume of €1.34 billion LEG Immobilien is, after Telefònica Deutschland, the biggest IPO in the last 5 years.
Deutsche Bank AG and Goldman Sachs International are lead managers. Deutsche Bank AG is also acting as the designated sponsor, while the specialist is Wolfgang Steubing AG.
“We are delighted that LEG Immobilien AG has become the first company to join the Prime Standard this year. We hope that this will send a positive signal for further IPOs this year,” said Alexander Höptner, Head of Markets Services at Deutsche Börse.
CEO of LEG, Thomas Hegel, said, “The great interest shown by investors confirms our strategy of profitable and sustainable growth. We are delighted by the high demand and will do everything in future to meet the expectations of both our investors and tenants. The quality standards our tenants can expect will remain at their usual high level.”
According to the company's figures, the LEG Group provides 250,000 tenants with around 91,000 apartments. The company primarily sees itself as a market- and service-oriented provider.