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IPO Monitor for the week ending Jan. 25

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Real Estate News & Analysis: April Edition

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IPO Monitor for the week ending Jan. 25

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

UK

Impact Healthcare REIT Plc is offering 160 million new ordinary shares, priced at 100 pence apiece. It expects to net £157 million from the offering, including the minimum £10 million that it expects to gain from the subscription of shares by Mahesh Patel and associates, who are the sellers of the REIT's seed portfolio. The vendors can own a stake of up to 18.8% in the REIT.

The initial portfolio of the REIT comprises 54 homes with 2,362 beds across the U.K., all managed by Minster Group and Croftwood Group. The properties, along with a 196-bed portfolio the company has an option to buy, were valued by Cushman & Wakefield at roughly £152.8 million, as at Dec. 31, 2016.

The subscription and placement of the company's shares will run from Feb. 28 to March 1, and the REIT expects to be admitted on the specialist fund segment of the London Stock Exchange's Main Market on March 7 at 8 a.m. local time, under the IHR ticker.

Hong Kong

Country Garden Holdings Co. Ltd.'s education unit is considering raise approximately US$200 million from an IPO either in Hong Kong or in the U.S. this year, The (Hong Kong) Standard reported, citing a source with knowledge of the company's plans.

The educational services provider's operations comprise six international, 11 bilingual and 34 kindergarten schools across seven Chinese provinces, with the first Country Garden School having been opened in 1994 in the Shunde province of Guangdong, China. The group also owns 15 training schools in Beijing, Shanghai, Shenzhen and Foshan.

Singapore

Dasin Retail Trust said it plans in Singapore on Jan. 20, listing 549,606,331 units on the main board of the city-state's stock exchange. It priced its IPO of 151,768,900 units at 80 Singaporean cents apiece, according to a separate filing.

The public offering comprised 151,768,900 units, which consisted of an international placement of 149,768,900 units and a public offering of 2,000,000 units to the Singapore public.

Australia

Godfrey Mantle, owner of Australia's Mantle Group, is considering listing his hospitality business portfolio of pubs and restaurants, The Australian Financial Review reported. The portfolio includes major attractions in Brisbane, Queensland's Queen Street Mall, which is Australia's second-busiest mall by traffic.