Germany's biggest real estate firm Deutsche Annington is preparing a listing of its shares before the summer, which could yield as much as 1.5 billion euros ($2 billion), two persons familiar with the company's plans said on Thursday. The target is to have a listing around July 4, they said.The real estate firm has chosen Morgan Stanley and JP Morgan to manage the operation.Deutsche Annington owns more than 210,000 flats in Germany with a total value of about 10 billion euros and could become the first real estate company in Germany's blue-chip index .The share offering would also be the second by a real estate company this year. Earlier this month, LEG Immobilien debuted on the Frankfurt stock exchange. It marked Germany's second-largest listing in five years, valuing LEG Immobilien at 2.3 billion euros.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 2.18% or $-0.51/share to $22.91. In the past year, the shares have traded as low as $12.26 and as high as $24.47. On average, 20597500 shares of MS exchange hands on a given day and today's volume is recorded at 17869384.
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