Simon will now sell off 20 million shares at $50 per share. This is 9% below the company's closing stock value on Friday. The stock opened at $52.29 this morning.

In the first quarter, Simon completed an offering of 17 million shares at $31.50 per share, raising a total of $1.2 billion. As part of the deal, the underwriters of the debt have exercised their over-allotment option. For the deal, Banc of America Securities LLC, Goldman, Sachs & Co. and JP Morgan Securities Inc. have been tapped as joint book-running managers and Credit Suisse Securities LLC and Greenwich Capital Markets Inc. are acting as co-managers.

It is speculated that Simon will try and snatch up several of General Growth Properties' assets as the company is restructured after declaring bankruptcy last month. Although, GGP executives denied a massive sell-off of its assets, a few strategic dispositions is likely inevitable. The retail-focused company had $1.12 billion in overdue debt as of the beginning of April.

Throughout the world, Simon owns part or all of 386 properties totaling 263 million square feet of space. It owns property throughout North America, Europe and Asia. Simon is run by David Simon, CEO.