With a team led by Dr. Thorsten Kuthe, Heuking Kühn Lüer Wojtek advised The Grounds Real Estate Development AG on a reverse IPO by contributing The Grounds Real Estate AG to a shell company. Subsequently, a private placement in Germany was successfully completed with the subscription of 2.2 million shares. The next step will be a dual listing of The Grounds Real Estate Development AG shares in the AltX segment of Johannesburg Stock Exchange. The shares will thus be placed with institutional investors in South Africa.
The Grounds Group focuses on the acquisition and development of residential real estate. Its objective is to provide affordable housing for different phases of life. The group focuses on special properties such as student and senior citizens' residences in metropolitan regions in Germany and at attractive sites as well as in up-and-coming peripheral locations.
Counsel to The Grounds Real Estate Development AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Anna Richter, LL.M. (all Capital Markets), all Cologne
Miriam Schäfer (Capital Markets), Düsseldorf
Dr. Karl-Josef Stöhr (Real Estate & Construction), Berlin