German investor and project developer IFM Immobilien said on Friday that it is to increase its share capital by up to almost 10%, excluding the subscription rights of shareholders, in a move aimed at funding the expansion of its real estate portfolio. IFM, which invests in commercial real estate with a focus on office and downtown retail property, added that it is going to place up to 849,999 new, no-par value shares with institutional investors in an accelerated bookbuilding process. The shares will be offered at a price of EUR 11 each. Commerzbank is acting as the sole lead manager and bookrunner for the transaction.
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