A €375m accelerated bookbuild in Austrian real estate company buwog generated a flurry of chatter last week as seller Sapinda Invest had purchased the shares just six weeks earlier. Sapinda Invest's purchase of the 18.6% stake in June was no less surprising as it struck a private deal to buy the shares from Immofinanz while bankers and investors were preparing for an accelerated bookbuild. Sapinda Invest, which manages €lbn raised through 5% profit participation notes issued in 2014-15, sold its entire holding of 18.54m shares on Tuesday evening in an ABB managed by Goldman Sachs.
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