April 5, 2019
IPSX, the International Property Securities Exchange, today announced the first advisery firm to join IPSX formally as a Member.
JLL joins as the first IPSX Approved Valuer. IPSX Approved Valuers will produce a Royal Institution of Chartered Surveyors (“RICS”) approved “Red Book” Valuation report for inclusion in all IPO prospectuses and a “Red Book” Valuation report every six months in respect of the underlying assets of each IPSX issuer.
Alan Ramsay, Chief Executive of IPSX UK Limited, said: “Our members are a valuable and essential part of our community and will play a vital role in the functioning of IPSX, both in terms of advising issuer clients on their IPOs and in supporting the trading of their shares in the secondary market. I am very pleased to welcome JLL as our first Member and look forward to welcoming additional advisery Members as we prepare our first IPOs for launch in the next few months.”
Hugo Raworth, Lead Director, London Commercial Valuation of JLL said: “IPSX represents a highly significant innovation in the commercial real estate world and will provide owners and investors alike with an important new opportunity for capital raising and investment. We welcome this new dimension and look forward to bringing our considerable valuation experience and capabilities to bear in supporting issuers through the valuation aspects of the IPO process.”
IPSX is in discussions with a broad range of early potential issuers, including private equity real estate funds, sovereign wealth funds, major quoted real estate groups, and owner-occupiers. 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.