German commercial real estate company TLG Immobilien aims to unveil plans for an initial public offering next week, several sources familiar with the situation told Reuters on Wednesday. The move adds to a rush of German companies aiming for a stock market debut in the coming weeks, with e-commerce firms Zalando and Rocket Internet also announcing their flotation plans.
TLG's owner, US investor Lone Star, aims to raise about 500 million euros ($645.30 million) with the placement, valuing the company at about 1.5 billion euros including debt, the sources said. Lone Star and the banks mandated to handle the placement, UBS and J.P. Morgan, declined to comment. TLG was not immediately available for comment. Lone Star bought TLG for 1.1 billion euros in 2012 from a government agency that organises the privatisation of east German companies in the wake of the reunification of Germany in 1990.