Deutsche Annington could be on sale in the coming weeks after reports indicated that the business firm is targeting for a market listing three to four weeks from now, a source close to situation disclosed on Monday.
Terra Firma, the company that owns Deutsche Annington, has been waiting for the perfect time to place Germany's largest residential property company on the market.
According to Reuters, Terra Firma plans to float roughly 20 percent of Deutsche Annington, which currently values at $5.3-$5.8 billion (Debts and other payables not included). The source added that the initial public offering is expected to go over a billion.
Deutsche Annington and Terra Firma have remained silent about the looming deal, but companies usually announce their plan to float roughly four weeks prior to their scheduled market debut.
The report surfaced just hours after Monday forklift truck maker Kion announced their intention for an initial public offering.
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