PRS REIT IPO

 

 

PRS REIT PLC has announced its intention to float

 

Public market deals

PRS REIT PLC

The PRS REIT PLC has announced its intention to float in an IPO of up to £250m as it aims to become the first London-quoted REIT. The trust released its prospectus on 4th May 2017.

Details of the float

The company is targeting a £250m raise, with a price per share of 100p. Minimum investment is £1,000. The Issue will be supported by the UK Government’s Homes and Communities Agency (“HCA”) with a direct investment of 9.99% and the funds raised will be used by the trust to invest in the Private Rental Sector (PRS), principally investing in England's major conurbations and areas with good transport infrastructure.  

PRS REIT Highlights

  • Strong management team
  • Proposed dividend yield of 5% in the period to June 2018
  • 6+% targeted dividend yield from thereon
  • Strong public and private sector relationships are already in place
  • UK private rental sector is valued at over £1trln

Timeline

Please note that dates are subject to change, as the offer could close early.

  • Prospectus published: 4th May 2017
  • Offer open: 4th May 2017
  • Offer closes: 23rd May 2017
  • Allocation announced: 25th May 2017
  • Unconditional trading commences: 31st May 2017

 

This information is issued by, and is the sole responsibility of SyndicateRoom and any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.