Overview

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IPSX is the world’s first regulated securities exchange dedicated to the initial public offering and secondary market trading of companies owning single institutional grade real estate assets and multiple assets with commonality. It represents a major evolution in the real estate market.

For investors, IPSX transforms real estate investment, for the first time enabling direct investment in commercial property via a public market.

For real estate owners, IPSX delivers an alternative capital markets product on a fully regulated basis, expanding the universe of potential investors.

IPSX delivers new and attractive opportunities for both real estate owners and investors providing flexibility, liquidity and transparency along with speed of execution and real time valuation.

IPSX has been recognised by the Financial Conduct Authority as a Recognised Investment Exchange, providing both real estate owners and investors with the protections of a regulated market.

At its most simple, IPSX reimagines the connection between real estate owners and real estate investors.

How IPSX works

IPSX will operate two markets. IPSX Prime (launched in 2019), admits to trading issuers owning underlying single commercial real estate assets or multiple assets which are, or proposed to be, securitised and traded on the Exchange. Our second market, IPSX Wholesale, subject to FCA regulatory approval, will be exclusively for professional investors and has been designed to provide real estate owners with an onshore market that is capable of accepting a variety of different corporate structures within a flexible regulatory environment, including JV REITs.

IPSX Prime

In order to be admitted to IPSX Prime, the issuer needs to meet the Exchange’s Admission Standards. These include: the appointment of an IPSX Lead Adviser and Approved Valuer; selling down a minimum 25% of the Company’s shares at the point of admission; limiting the debt loan to value in the entity to 40%; and issuing a prospectus for approval by the UK Listing Authority.

IPSX Wholesale

IPSX Wholesale has been designed to provide real estate owners with an onshore market that is capable of accepting a variety of different corporate structures within a flexible regulatory environment, including JV REITs. IPSX Wholesale will be a MTF, a multilateral trading facility that facilitates the exchange of financial instruments between multiple parties.. We are currently in active discussion with the FCA about the detailed structure of IPSX Wholesale, to help address that gap. Further details will be made available in the coming weeks.