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Germay's OfficeFirst puts IPO on ice
October 11, 2016 / 5:51 AM / a year ago

Germay's OfficeFirst puts IPO on ice

FRANKFURT, Oct 11 (Reuters) - German real estate company OfficeFirst Immobilien :

* Says decided to postpone the planned initial public offering (IPO) of OfficeFirst due to negative market developments

* Says received generally very positive feedback from investors regarding OfficeFirst, but cites a downturn in real estate sector since IPO subscription period started last week

* IPO on Prime Standard segment of the Frankfurt Stock Exchange had been planned for Oct. 14

* Says to continue to evaluate the market environment regarding a potential IPO in the future

* OfficeFirst had said was targeting the sale of shares worth up to 880 million euros ($986 million)

* OfficeFirst is the core of IVG Immobilien, which went through insolvency proceedings in 2013. It manages a commercial property portfolio worth 3.25 billion euros, the bulk of IVG’s assets.($1 = 0.8928 euros)

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