GSW Immobilien AG

EANS-News: GSW Immobilien AG places shares at EUR 19.00

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Financing, Stock Offerings (IPO)

Berlin (euro adhoc) - GSW Immobilien AG places shares at EUR 19.00

* Issue volume including over-allotment amounts to EUR 468 million * GSW generates gross proceeds of approximately EUR 115 million * Trading starts on 15 April 2011

Berlin,14 April 2011 - GSW Immobilien AG ("GSW" or "Company"), the leading private residential property company in Berlin, its selling shareholders and the syndicate banks have set the issue price for the offered shares at EUR 19.00 per share. A total of approximately 24.6 million shares were placed, including shares placed from the over-allotment option. Trading on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange and on the Regulated Market of the Berlin Stock Exchange will start on 15 April 2011.

A total of 24,613,024 shares were placed, including 6,052,630 new shares from a capital increase, 15,350,000 shares from the holdings of selling shareholders and 3,210,394 shares from the holdings of selling shareholders placed from the over-allotment option. The total issue volume amounted to approximately EUR 468 million. The free float will amount to approximately 60 percent after the placement assuming full exercise of the over-allotment option. The number of new shares was settled at the end of the offer period to the effect that the Company generated gross proceeds of approximately EUR 115 million. In the context of the offer, all selling shareholders have agreed to market protection agreements, i.e. a lock-up period of six months after trading in the offered shares has started.

Thomas Zinnöcker, CEO of GSW: "We are delighted with the high demand for our shares and the strong interest from the investors. We intend to use the proceeds from the IPO to grow further and strengthen our leading position in the Berlin residential property market. We plan to consistently pay dividends of 65 percent of our funds from operations (FFO) to enable our investors to appropriately participate in the success of GSW."

Approximately 99 percent of the shares were placed with institutional investors and approximately 1percent was placed with retail investors in Germany and Luxembourg.

The shares of GSW Immobilien AG will start trading on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange and on the Regulated Market of the Berlin Stock Exchange on 15April2011 under the stock symbol GIB. The international securities identification number (ISIN) of GSW will be DE000GSW1111, the German security code number (WKN) will be GSW111.

Media Relations Thomas Ruecker GSW Immobilien AG Charlottenstrasse 4 10969 Berlin, Germany

Tel.:   +49-30-25 34 13 32
Fax:    +49-30-25 34 19 34
E-mail: thomas.ruecker@gsw.de 

Investor Relations Sebastian Jacob GSW Immobilien AG Charlottenstrasse 4 10969 Berlin, Germany

Tel.:   +49-30-25 34 18 82
Fax:    +49-30-25 34 19 09
E-mail: sebastian.jacob@gsw.de 

About GSW GSW Immobilien AG is a leading privately-owned residential real estate company operating in Berlin, with an owned portfolio of approximately 48,800 apartments and 3.0 million square meters of residential floor space. In addition, a subsidiary of GSW manages approximately 15,800 residential units for third parties. GSW's strategy focuses on the long-term rental management of residential property via a systematic approach, which aims to increase customer satisfaction and operational efficiency. The Company was founded in 1924, and was acquired in 2004 from the State of Berlin by holding companies of Cerberus Capital Management, L.P. and the Whitehall Funds. GSW employed approximately 597 employees on average in 2010. As of December 31, 2010, the Company's property portfolio was valued at approximately EUR 2.6 billion.

Disclaimer This press release does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities.

This press release does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities in the United States of America, Australia, Canada, Japan or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.

This press release is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2) (a) to (d) of the Order (all such persons are referred to herein as "relevant persons"). This press release is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents. Any investment or investment activity to which this press release relates is available only for relevant persons and will be engaged in only with relevant persons.

end of announcement                               euro adhoc
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Further inquiry note:

Sebastian Jacob
Tel.: +49 30 25 34- 18 82
E-Mail: sebastian.jacob@gsw.de

Branche: Real Estate
ISIN: DE000GSW1111
WKN: GSW111
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing

Original-Content von: GSW Immobilien AG, übermittelt durch news aktuell

Weitere Meldungen: GSW Immobilien AG

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