EFG property arm heads for bourse

Real estate investment company Eurobank Properties, a subsidiary of EFG Eurobank, said yesterday it plans to go public and list its shares on the Athens Stock Exchange by the end of March. «The company intends to offer 5,510,066 new common shares and one of its shareholders, REIB Europe Investments Ltd, a subsidiary of Deutsche Bank, intends to offer 1,100,000 of its common shares in the company in a public offering in Greece and in an international offering to institutional investors outside the United States and Greece,» Eurobank Properties said. EFG Eurobank holds 71 percent of Eurobank Properties. REIB Europe owns 15.9 percent and Lamda Development another 13.2 percent. At the end of 2005 the firm’s real estate portfolio was appraised at 271.3 million euros. (Reuters)

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