Shearman & Sterling has advised a real estate company in the largest IPO in Germany this year. The IPO of Alstria Office will allow the company to be converted into a real estate investment trust (Reit) once the new regulation is formally agreed, which is expected later this month. Lead partner of the team at Shearman Hans Diekmann said: "The German Reit regulations will hopefully be settled later this month. Now that Alstria is listed on the stock exchange it may be the first German Reit." The IPO, which was listed on the Frankfurt Stock Exchange, has a volume of €437.36m (£297.71m) and 98 per cent of shares were placed to institutional investors. Diekmann said: "The IPO is significant for Alstria because it will now be able to access capital markets. Linklaters advised lead managers JPMorgan and Deutsche Bank on the transaction, with partner Herbert Harrer leading the team.