The UK Residential REIT (URES) is considering its options as it has failed to reach its target fundraise of £150m by the timeline outlined in its prospectus, Investment Week has learned.
The investment company, which revealed its intention to float at the beginning of June, was hoping to announce its initial fundraising on 14 July and enter the market on 16 July, according to the prospectus. It will now be discussing options internally, which could include continuing to look for additional potential investors or pull the IPO, a source said. Henry Wilson, director at Buchanan, said: "The investment companies IPO market remains relatively binary with a number of highly successful launches of differentiated new products being balanced by failures. "The secondary marke...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
