Capital hike weighs on Vonovia shares

Deutsche Wohnen SE

22/11/2021 06:54

** Shares in Vonovia  VNAn.DE  slide 2.6% in Lang & Schwarz
pre-market trade after the German real estate company said it
planned to raise some 8 billion euros ($9 billion) in a capital
increase to partly finance its takeover of rival Deutsche Wohnen
 DWNG.DE   urn:newsml:reuters.com:*:nASN001WTR
    ** "Long awaited and volume as expected, but should weigh on
shares today," a local trader notes
    ** At the end of October Vonovia said it had secured a total
of 87.6% of voting rights in Deutsche Wohnen, successfully
completing its takeover bid  urn:newsml:reuters.com:*:nASN001STE
    ** The stock is seen at bottom of German blue-chip index
 .GDAXI 

 (Reporting by Linda Pasquini)
 ((linda.pasquini@thomsonreuters.com))