Cushman & Wakefield joins IPSX to become exchange’s fifth approved valuer
Cushman & Wakefield, the global commercial real estate services firm, has become the latest approved valuer to join IPSX, the International Property Securities Exchange, which operates the world’s first regulated securities exchange dedicated to commercial property. Cushman & Wakefield joins a panel of leading global advisors for prospective issuers to choose from in seeking admission to IPSX.
Although investor demand in the wider capital markets will ultimately drive the market price for companies traded on IPSX, these approved valuers provide independent assessments on the value of the real estate proposed for IPO, complementing the financial, management and strategic information provided in the IPO prospectus. Together, these disclosures offer investors a comprehensive suite of information on the company seeking admission to IPSX.
IPSX members are firms who play a key role in the exchange and have met the membership eligibility criteria under the IPSX rules for members. Members that are approved valuers produce a valuation report at the time of the IPO which is updated every six months and reflects the requirements of the Royal Institution of Chartered Surveyors (“RICS”) “Red Book” as well as IPSX’s rules for issuers.
David Delaney, CEO at IPSX said: “The panel of approved valuers we are now able to provide to potential issuers is comprised of the very best operating across the commercial real estate industry globally. Engaging an approved valuer is a key stage for any company looking to enter the public markets via IPSX and having trusted, experienced advisors is critical to ensuring a smooth and stable process from the outset.”
Charles Smith, Chairman of Cushman & Wakefield’s UK Valuation & Advisory team, said: “As members of IPSX we have the opportunity to provide vital services during the IPO process, with a responsibility to both the issuer and the investment community. We are looking forward to immersing ourselves in this exciting new option for commercial real estate owners and to supporting future transactions through our extensive team of valuation experts.”