Ascencio, a Belgian commercial property real estate fund, is to sell EUR 45.6 mln worth of shares in an initial public offering, researchers at merchant bank Kempen & Co have said. Ascencio will offer some 894,000 existing shares, about 30% of the total, at EUR 47 to EUR 51 a share, which values the company at EUR 140 mln to EUR 152 mln.
Ascencio, a Belgian commercial property real estate fund, is to sell EUR 45.6 mln worth of shares in an initial public offering, researchers at merchant bank Kempen & Co have said. Ascencio will offer some 894,000 existing shares, about 30% of the total, at EUR 47 to EUR 51 a share, which values the company at EUR 140 mln to EUR 152 mln.
Ascencio manages a portfolio of 72 properties valued at EUR 175.4 mln and aims to invest EUR 20 mln in commercial property a year. It is also considering expansion into semi-industrial property and office buildings.
