Gravis Capital Management (Gravis) is planning to launch an initial public offering (IPO) of GCP Co-Living REIT on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue of 300 million ordinary shares at an initial issue price of GBP1.00 per Ordinary Share.
Gravis Capital Management (Gravis) is planning to launch an initial public offering (IPO) of GCP Co-Living REIT on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue of 300 million ordinary shares at an initial issue price of GBP1.00 per Ordinary Share.
The IPO Prospectus is expected to be published in February 2022.
GCP Co-Living REIT plc is a newly established, externally managed investment company, which will invest predominantly in independent Co-Living Assets, both operational and under development, let to a diversified mix of residents, located in urban centres in the UK and Ireland where there is a shortage of high quality, affordable residential accommodation.
The IPO proceeds are expected to be fully invested immediately following IPO into a GBP425 million high quality portfolio of three prime London Co-Living Assets held under contractual exclusivity (the “Exclusivity Assets”). Two of the Exclusivity Assets are operational and represent approximately 90 per cent of all operational Co-Living beds in London.
