Icade, the real estate company being spun off by French state-owned bank Caisse des Dépôts et Consignations, is set to raise up to €637m ($769m) from its initial public offering in the largest deal in France this year.

Icade is set to sell 22 million new shares, equal to 23.2% of the company, at €24.95 to €28.95, the company said in a statement. The new shares will be used to finance expansion in Europe.