IReit Global (IPO)

IReit Global IPO: Chinese Tycoon Tong Jinquan, Chairman of real estate developer Summit, is planning to buy 60% of the units offered for a new IREIT Global IPO. IREIT Global aims to raise US$300m, and will invest in European properties, with an initial focus on Germany and UK. The currently portfolio consist 4 office properties in Germany, with value of $372.4m.