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Shiva Hotels postpones Hotel Income REIT IPO

U.K.-based Shiva Hotels Ltd. delayed its planned £150 million IPO of its subsidiary Hotel Income REIT PLC due to Brexit uncertainty, Property Week reported, citing Shiva Hotels founder and director Rishi Sachdev.

The hotel group was supposed to publish its IPO prospectus Sept. 24 and was looking to float the unit early October. Sachdev said he is confident about the long-term robustness of the hospitality segment and that Shiva has various options for whatever happens to the market, the publication added.