NewRiver Retail, the newly formed specialist commercial property investment and asset management company in the UK, successfully raised £25 mln (EUR 28 mln) in IPOs on London's junior market AIM and the Channel Islands Stock Exchange.
NewRiver Retail, the newly formed specialist commercial property investment and asset management company in the UK, successfully raised £25 mln (EUR 28 mln) in IPOs on London's junior market AIM and the Channel Islands Stock Exchange.
The placing comprised 10 million shares at 250p per share. NewRiver had planned to raise £250 mln earlier this year but was forced to scale back its ambitions due to weak market sentiment.
NewRiver Retail has been established to take advantage of opportunities in the UK commercial property market. It will specifically target the retail sector, through active and entrepreneurial asset management and risk controlled development, using both its own balance sheet capital and co-investment and joint venture structures.
In May this year, Max Property Group raised £220 mln (EUR 252 mln) on AIM in the only other IPO in the UK so far this year. To read more about the winners and losers in the European listed sector, click on the link below to subscribe to PropertyEU.
