Independent Living REIT, a UK-focused real estate investment trust in the supported housing market, has announced its intention to go public via an IPO on London’s main market.
The company is seeking to raise £150mln through the issuance of ordinary shares.
While target share prices have yet to be announced, Independent Living REIT is targeting a 5p per share dividend for the first two years post admission, with an annual return of 7% to 10% over the medium term.
Chair Fiona Miller Smith said: “We have specifically designed Independent Living REIT following extensive dialogue with the Regulator of Social Housing.
“Our model delivers a long-term, financially sustainable approach that benefits local authorities, residents and investors.
“By delivering safe housing for vulnerable members of the community, we will provide a clear and measurable impact to society.”
Atrato Partners Limited is acting as the investment advisor while RBC Capital Markets was chosen as the underwriter.