Joining a public market is an important decision for prospective issuers that will require careful consideration by the asset owners, its management team and professional advisers.
The process for a prospective issuer seeking admission to trading on IPSX Prime will take approximately 12 weeks, depending on the complexity of the transaction.
A prospective issuer will want to take proper advice and will need to identify the objectives of an IPO before considering whether an admission to trading on IPSX Prime best meet its needs.
Admission to IPSX Prime will not be suitable for all commercial real estate assets.
Prospective issuers will need to consider, along with their advisers, a range of factors. These include market timing, the target investor mix, the percentage of shares to be in free float and the structure of the Issuer entity.
A prospectus will need to be prepared by the prospective issuer’s Lead Adviser which will be vetted and approved by the UK Listing Authority (UKLA), a division of the FCA, and further admission requirements submitted to the IPSX Market Regulation team.
An issuer also seeking admission to the Official List must submit their listing particulars to the UK Listing Authority for review and approval. Once both processes are successfully completed, the securities will be admitted to trading on the IPSX Regulated Market.
In addition to complying with the IPSX Rules for Issuers, issuers must also comply with their applicable obligations under the Listing Rules, Prospectus Rules, Disclosure Requirements, and Transparency Rules and the Market Abuse Regime.
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Leveraging the IPSX platform as an asset owner
IPSX provides a public market option for real estate owners that delivers access to a wider investor base with transparency, liquidity and real time valuation.
IPSX fills a gap in the investment landscape and gives a viable open public market option for real estate owners and investors. The new market provides access to the commercial property asset class for smaller institutional as well as private investors.
To find out more about becoming a member of the Exchange, click here to download the application forms