pbb to float in Frankfurt
Deutsche Pfandbriefbank has abandoned plans to take the business private and will float on the Frankfurt Stock Exchange in July.
The business plans to sell 75.1% of its share capital, with the balance being retained by the German state.
Eastdil hires Rhydderch
Eastdil Secured has poached Michael Rhydderch from lender Brookfield Financial.
Rhydderch had been a partner at Brookfield since September 2013 and before that was a partner in the international investment team at Cushman & Wakefield for eight years.
Wealth funds focus on UK
Some 44% of all global sovereign wealth fund real estate spending was invested in the UK last year, according to research from trade body CityUK, with 60% increasing their allocations to real estate and infrastructure in 2014.
The UK has attracted 16% of direct investment across all sectors made by SWFs since 2007, the same share overall as the US.
Ediston to issue shares
Ediston Properties plans to expand the business through the issue of 150m new shares following a successful deployment of all its capital.
Based upon current share price, the issue would raise £165.4m. The company intends to issue 40m shares in an initial placing and up to another 110m in a 12-month placement programme.
Full pricing will be set at a premium to the recent net asset value per share of 102.56p.
