Corestate Capital, the Zug-based private equity real estate firm, is preparing an initial public offering (IPO) on the Frankfurt Stock Exchange next week. The listing is scheduled for October 4.
The firm has already completed a capital increase by means of a private placement with some international investors immediately before the approval of the securities prospectus.
Corestate intends to use the expected proceeds from the listing to increase the number of transactions and to execute higher volume transactions.
“With the listing on the Frankfurt Stock Exchange, we will be opening up sustainable access to the capital market for our company, which we intend to continue to use in the future to finance our growth,” explained Sascha Wilhelm, chief executive of Corestate.
The firm had originally planned to raise around €100 million via a free float of over 50 percent of the company back in October, 2015. However, it cancelled the listing citing difficult market conditions. “This decision was taken due to the currently difficult market environment for IPOs in the German and UK stock markets, which are of particular relevance to the company,” the firm said at the time.
Corestate is headquartered in Luxembourg, but also has offices in Frankfurt, Zurich, London, Madrid and Singapore. Since its inception in 2006 the transaction volume of the firm amounts to approximately €5.6 billion.