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IPO Monitor for the week ending April 13

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IPO Monitor for the week ending April 13

Editor's note: The IPO Monitoris a feature that tracks international real estate companies debuting on the exchanges.

UK

PacificIndustrial & Logistics REIT plc saidits entire ordinary share capital has been admittedto trading on London's AIM. The newly incorporated, closed-ended company has beencreated to invest in U.K. industrial and logistics assets, typically with a singletenant. Acquisitions will be on the smaller end of the scale with an average lotsize of £10 million.

The company is expected to qualify as a REIT following AIM admission,and will carry on business as a REIT. Pacific Industrial & Logistics REIT isexpected to have a market capitalization of roughly £10.3 million on admission.

The nominated adviser, broker and placing agent to the companywas finnCap Ltd. The REIT is backed by property investor Sir John Beckwith's PacificInvestments, as previously reported.

Additionally, the REIT has conditionally agreed to buy the M1Portfolio, a collection of logistics assets in Bardon, Northampton, Bedford andDunstable, U.K., for £27 million.

Sweden

NCC Housingsaidit plans to launch a new homebuilder brand called Bonava, which will list on NasdaqStockholm within the year, subject to shareholder and bourse approval. The brandis expected to be launched during 2016.

Italy

to downsize the minimum offeringsize of its IPO in Italyto €215 million from €300 million and also offer the shares exclusively to institutionalinvestors. The company filed its initial listing on the Mercato Telematico Azionarioin March and did not disclose a reason for the changes in its news release.

COIMARES said its institutional offering generated "strong demand" from localand offshore investors. However, PropertyEUreported that because investor interest fell short of expectations amid difficultmarket conditions, the company decided to cancel the public offering of 3 million shares priced at €10 apiece.

The developersaid it is in a position to imminently file the request for approval of a new Italianlisting prospectus. The IPO was scheduled to close April 8, as previously reported,and the company now expects the updated offering to close following receipt of regulatoryapproval of the new Italian listing prospectus.

IPO BorsaItaliana SpA served as the organizer and manager of the IPO. Citigroup and Mediobancaacted as joint global coordinators, while Banca IMI, UniCredit and Kempen &Co. served as joint book-runners.

Malaysia

secured regulatory approval for its unit to move ahead with a proposed domesticIPO, which could raise at least 2.15 billion Malaysian ringgit, Reuters .

The moneyraised from the public offering of Eco World International Bhd. is intended to fundprojects in the U.K. and Australia and repay borrowings, according to the report.Parent company Eco World Development is expected to hold a 30% stake in the vehiclefollowing the listing.

MaybankInvestment, CIMB Investment and Hong Leong Investment are acting as joint principaladvisers for the IPO.