Wolfgang Egger, chairman and founder of German property group Patrizia Immobilien, is set to make an estimated €339m ($412m) when Deutsche Bank, JP Morgan and Sal Oppenheim float the business at the end of next month.

The company's chief financial officer Alfred Horschek has told Bloomberg that the property group is planning to sell seven million new shares and 14.8 million existing shares, equal to 46% of the company.