Sept. 3, 2020
This article was written by Carolyn Cohn for Reuters on 3 September 2020.
British commercial property exchange IPSX is hoping to list its first five initial public offerings this year, its managing director said on Thursday, giving real estate investors an alternative way to buy into the sector.
The exchange, which describes itself as the world’s first regulated exchange for commercial property stocks, will list the Mailbox office and retail complex in Birmingham, central England in its debut IPO, Roger Clarke told Reuters.
The building will be listed as a real estate investment trust (REIT) with a market capitalisation of 115 million pounds ($153 million). The current owner of the property, M7 Real Estate, will retain a 45% stake. Clarke did not give an exact timetable.
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IPSX Wholesale is a market exclusively for institutional and professional investors.