May 7, 2009 (FinancialWire) — Simon Property Group, Inc. (NYSE: SPG) plans to launch an offering of 14 million shares of common stock. Merrill Lynch & Co. (NYSE: MER), J.P. Morgan Securities (NYSE: JPM), and Morgan Stanley (NYSE: MS) are serving as joint book-running managers.

The company expects to grant the underwriters an overallotment option to purchase 2.1 million additional shares of common stock.

Simon Property plans to use the net proceeds for general corporate purposes.

Indianapolis-based Simon Property is a real estate company owns regional malls, outlet centers, community and lifestyle centers and international properties. It also acquired The Mills, a group of regional malls and shopping centers.

The company owns or has an interest in 386 properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia.

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