The Schroder European Real Estate Investment Trust, which is due to list on the London Stock Exchange on 9 December 2015, with a secondary listing in South Africa, has announced the results of its initial public offering. Commitments for 104,347,800 ordinary shares were received under the initial placing and a total of 3,152,200 ordinary shares will be subscribed for under the offer for subscription. As such 107.5m million shares are to be issued.
The trust says that it will be targeting growth regions in Continental Europe and aims to provide a regular and attractive level of income together with the potential for long-term income and capital growth. According to the Trust, the portfolio is to be managed by Tony Smedley with the support of nearly 100 real estate professionals located in hubs across Europe, including London, Paris, Frankfurt and Zurich. The Trust says it will be targeting specific cities across the region with large, liquid real estate markets that offer superior growth potential. It is to invest in a range of real estate assets including offices and retail and leisure developments.
Schroder European REIT IPO raises £107.5m