14th Jan 2019 15:31
LONDON (Alliance News) - Retail estate investor Summit Germany Ltd on Monday said it plans to list its German real estate business on the Frankfurt Stock Exchange.
The listing Summit Luxco SARL, aimed for 2019, would include a private placement.
"Summit is considering the listing to provide investors with the opportunity to invest in Summit's German real estate business and to facilitate Luxco's growth in Germany through the execution of its existing development pipeline and additional acquisitions of commercial real estate properties," Summit Germany said.
"Going forward, Summit will seek to diversify its real estate business and pursue investment opportunities throughout Continental Europe and other markets," it added.
Summit Germany's listing in London would be unaffected, the company confirmed. Shares were up 1.3% on Monday afternoon at EUR1.15 each.