The IPSX stock exchange is preparing to welcome its third listing as M7 lines up the long-awaited float of a £63m mixed-use Leeds scheme.
BWP REIT is expected to list before the end of the month, and has been set up to hold Bridgewater Place, an office, residential and retail scheme which M7 bought in 2020 with the intention of floating on the exchange. The deal is anticipated to raise £35m through the wholesale segment of the exchange, targeting institutional investors.
M7, which has also listed Birmingham’s Mailbox and a portfolio of retail warehouses on IPSX, had initially planned the Bridgewater Place IPO for March. The listing is one of several currently planned for the exchange.
M7 Real Estate Financial Services will serve as alternative investment fund manager to the REIT, and M7 Real Estate will act as asset manager. M7 will own 8.57% of the REIT’s share capital after admission.
WH Ireland is acting as lead adviser and settlement agent.
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