Radovan Vítek plans a new placement of GSG shares on the Frankfurt stock exchange. He hopes to raise €1bn in the process, writes Forbes in its July issue. GSG, whose shares are sold on the Prague stock exchange, is the new name of his real estate business CPI following its merger with Orco Germany. Vítek plans to invest the capital raised in the new placement into his projects in France, Switzerland, the Czech Republic and Poland.
The issue is planned for autumn, though Vítek has yet to decide whether to offer new, ordinary shares, or whether he should put some of his own shares as GSG’s majority shareholder on sale. Vitek currently controls 94 percent of the group that’s valued at €1.6bn for the Frankfurt bourse.
