IPSX Group Ltd. said the U.K.'s Financial Conduct Authority has given the go ahead for its wholly owned subsidiary IPSX UK Ltd. to operate a recognized investment exchange in the U.K.
IPSX would be the first and only regulated exchange committed to commercial real estate, and companies owning single real estate assets would issue and trade on IPSX.
Investors would be able to buy shares in buildings and the exchange would allow owner occupiers to release value from freehold assets without having to sell and lease back the properties or bringing in joint venture partners.
IPSX expects the first IPOs to launch from the exchange from the end of the first quarter. IPSX is also planning to open further exchanges in continental Europe, North America and Asia.
According to a Jan. 9 report from London's Financial Times, IPSX's shareholders include property giant British Land Co. PLC and real estate private equity companies like Moorfield Group and M7 Real Estate.