Hochtief Concessions IPO to raise 1 bln eur-sources

FRANKFURT, Nov 10 - Hochtief <HOTG.DE> expects the planned initial public offering of its Concessions unit to generate proceeds of almost 1 billion euros , making it the biggest German IPO in two years, several people familiar with the matter said on Tuesday.

Of that amount, 700-750 million euros will initially go to Hochtief and later largely be reinvested into the Concessions unit, the people said. Some 200 million euros will go directly to Concessions as part of a capital increase, they said.

The shares could be listed on the stock exchange from early December, they said.

A spokesman for Hochtief declined to comment.

The Concessions unit has a portfolio of projects worth 1.5 billion euros, including six airport shareholdings, seven roads and 89 schools.

For a TAKE-A-LOOK on global IPOs, double click on [ID:nSP393789] (Reporting by Philipp Halstrick and Matthias Inverardi; Writing by Maria Sheahan)