(Bloomberg) -- A single shareholder of Deutsche Bank AG is offering to sell around 16 million shares in the German lender, according to a person familiar with the matter.

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The deal is likely to price at €16.01 ($17.46) per share, according to terms seen by Bloomberg. The sale could raise about €256 million ($279 million) in gross proceeds for the seller, according to Bloomberg calculations. Goldman Sachs Group Inc. is arranging the sale, the terms showed.

A representative for Deutsche Bank declined to comment. The transaction comes as the German lender’s shares have rallied more than 30% this year.

It follows a flurry of selldowns in European companies as stockholders rush to take advantage of high stock prices ahead of the US presidential election and earnings season, with close to $11 billion of deals priced since the start of September, according to data compiled by Bloomberg.

These have included selldowns in banking institutions, including Commerzbank AG, National Bank of Greece SA and Santander Bank Polska SA.

Deutsche Bank’s chief financial officer recently ruled out becoming involved in a takeover battle for Commerzbank after its smaller rival received an unsolicited approach from UniCredit SpA.

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