(Bloomberg) -- Vector Hospitality Plc, Europe's first real estate investment trust for hotels, plans to raise as much as 2.5 billion pounds ($4.94 billion) in the continent's largest ever initial public offering of shares by a property company.
Vector plans to sell 200 million shares at between 995 pence and 1,115 pence each, the company said in a Regulatory News Service statement today. The IPO, to be managed by Deutsche Bank AG, can be increased by as much as 10 percent depending on demand. The shares are due to start trading in London on June 11.
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