Savills joins IPSX to become exchange’s sixth Approved Valuer
Savills, the international real estate advisor, 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. Savills joins a panel of leading global advisors for prospective issuers to choose from in 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.
While the market price for companies trading on IPSX will ultimately be driven by investor demand within the wider capital markets, 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.
Alan Ramsay, Chief Executive at IPSX UK said: “The appointment of Savills as our sixth Approved Valuer is not only a further gratifying indication of the Sector’s commitment to IPSX as a platform, but also allows us to service potential issuers with a panel of the very best valuers operating across the commercial real estate industry globally. We look forward to working with Savills, along with our other trusted and experienced advisors, as we continue building our momentum and leveraging the potential IPSX offers in current markets.”
Ian Malden, Director of Savills’ Valuation Division, said: “IPSX represents an exciting revolution in the commercial real estate world, which will provide owners and investors alike with an innovative avenue for capital raising and investment. We are looking forward to bringing our considerable valuation experience and capabilities to bear in supporting future transactions through this innovative exchange.”