NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (the “Company”) announced today that it confidentially submitted a registration statement to the Securities and Exchange Commission to sell shares of its common stock in an underwritten initial public offering. The purpose of the offering is to facilitate acquisitions and ongoing ownership and management of a premier portfolio of high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco that are currently managed and owned by entities affiliated with the Company, which is led by Albert Behler and was founded by Professor Dr. Werner Otto of Hamburg, Germany. The initial public offering is expected to commence after the Securities and Exchange Commission completes its review process, subject to market and other conditions.
This press release is being issued in accordance with Rule 135 of the Securities Act of 1933, as amended. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The proposed offering will be made only by means of a prospectus to be included in the registration statement.