The Sustainable Farmland Trust Plc (SFT) has announced that it “has decided to pause its initial public offering (IPO) due to the current high levels of market volatility and uncertainty.” SFT published its IPO prospectus on 15 September 2022 (click here to read more on that) and SFT’s board and manager say that they are greatly encouraged by the significant level of support and positive feedback received from investors but that, since the launch of the IPO, market conditions have deteriorated and are volatile, presenting significant challenges for many institutional investors. The Board therefore believes that it would be more beneficial to recommence the IPO at a later date. Subscriptions received via the intermediaries offer and offer for subscription will be returned to investors. In the meantime, the manager continues to have what it describes as a very attractive pipeline of available opportunities valued at around US$2.7bn and will continue to deploy existing and new capital commitments for the existing Core Fund. The trust says that it looks forward to making a further statement on the revised IPO timetable in due course.
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