Deutsche EuroShop
Deutsche EuroShop AG is a international active German real estate investment company headquartered in Hamburg. It is the largest German investor in shopping centers, and the country's only publicly traded company to do so exclusively. At the end of 2010 the firm held investments in 18 properties, of which 14 were in Germany, two in Poland and one each in Austria and Hungary. The company's shares have been listed on the Frankfurt Stock Exchange since January 2001 and form part of the small-cap SDAX index. History. The company was founded on 10 October 1997 as  a pure shelf company with the name TORWA Beteiligungs AG. The company's name was changed to Deutsche EuroShop on 21 August 2000. At that time, Deutsche Grundbesitz Management GmbH was the sole shareholder and provided the company with EUR 580 million as a capital reserve with no obligation in return, which Deutsche Grundbesitz Management GmbH, DI Deutsche Immobilien Treuhandgesellschaft and DB Immobilienfonds Kappa Dr. Rühl KG acquired the stakes in eight shopping centres. The management was operated in 2001 by ECE Projektmanagement GmbH & Co. KG. Deutsche EuroShop AG has been listed on the German stock exchange since 2 January  2001, and the entire proceeds from the issue went to Deutsche Grundbesitz Management GmbH (later name change to DB Real Estate), a subsidiary of Deutsche Bank. The chairmen of the board were Knut Neuss and Jürgen Wundrack, and the chairman of the supervisory board was Helmut Ullrich. On 15 April 2003 the company was included in the Prime Standard, and on 14 July 2003 in the SDAX. It was included in the EPRA index on 2 January 2004 and, from 20 September 2004, in the MDAX, which it had to leave on 23 September 2019. Since then, it has been  on the SDAX again. There is also a listing in the North German regional index HASPAX. On 10 November 2005 the company received approx. EUR 67 million from a capital increase. Further capital increases followed on 7 July 2009 and on 1 February and 23 November 2010, which brought the company a total of 322 million euros. In November 2012, Deutsche EuroShop AG generated proceeds of around EUR 167.7 million from the placement of a convertible bond and shares from a capital increase. The convertible bond was finally converted to 99.5% in November 2017, the total number of shares was  61,783,594. Due to the COVID-19 pandemic, Deutsche EuroShop suffered loss of rent of 24.2% in the first half of 2020. The valuation of real estate assets was also devalued by an average of 5.5%. Shareholder structure. At the end of 2016, the Supervisory Board held 9,683,163 (17.6%) shares, the Management Board none. In April 2017, the company had around 14,500 shareholders and a free float of 82.4%. In the 2020 financial year, the company's share capital was divided into 61,783,594 shares. 20.03% of them are owned by the mail order heir Alexander Otto. Corporate governance. Board. The board consists  of the following members: Wilhelm Wellner, Spokesman for the Management Board (since July 2015 Spokesman, since February 2015 member of the Management Board) Olaf Borkers (member of the Management Board since 2005) Supervisory board. The supervisory board consists of nine members. The chairman is Reiner Strecker and his deputy Karin Dohm.