TLG Immobilien seeks to raise around 450 mln euros in listing
BERLIN, Oct 14 (Reuters) - German property company TLG Immobilien announced plans on Tuesday to list on the Frankfurt stock exchange on Oct. 24 despite a slump in European markets, hoping to raise about 450 million euros ($570 million).
TLG, owned by U.S. private equity firm Lone Star, set a price range of 10.75-13.75 euros per share for the public offering. About 114 million euros of the proceeds should go to TLG, with the rest to Lone Star.
TLG said it planned to pay a dividend for 2014 of 10-15 million euros, adding that existing investors would hold 39.9 percent in the company after the initial public offering and exercise of an overallotment option.
(1 US dollar = 0.7896 euro) (Reporting by Emma Thomasson; Editing by Pravin Char)
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