LONDON (Reuters) - Retail property investor Metric Property Investments (METP.L) said on Friday it had raised 175 million pounds ($265.9 million) in its initial public offering, (IPO) 25 million pounds more than initially targeted.
The 175 million pounds raised was at 100 pence a share and before the over-allotment option was exercised, Metric said in a statement, compared with its original target for gross proceeds of 150 million pounds.
Metric has applied for admission to London Stock Exchange"s (LSE.L) main market and expects this to happen on March 24. The company will be a real estate investment trust with 175 million pounds capitalization on admission.
Chief Executive Andrew Jones said extensive re-pricing and refinancing pressures in the property market were opportunities for Metric"s occupier-led approach and active asset management.
($1=.6580 Pound)
(Reporting by Andrew Macdonald; editing by Simon Jessop)
Deals
No comments:
Post a Comment