News

£300m oversubscribed IPO of Life Sciences REIT plc

Panmure Gordon is delighted to have acted as Nomad and Joint Bookrunner on the £350 million AIM IPO of Life Science REIT plc.

It is the largest UK REIT IPO since 2016, and the first UK listed REIT solely focused on the Life Science property sector providing investors with exposure to an attractive and growing real estate sector.

The Company received applications exceeding both the target of £300m and the £350 million maximum size of the Issue. Accordingly, a scaling-back exercise has been undertaken. Dealings will commence in the Ordinary Shares at 8.00 a.m. on 19 November 2021.

Claire Boyle, Chair of Life Science REIT plc, said:

“We are delighted to see such strong support from a broad range of institutional and retail investors for the Issue, the proceeds of which will enable the Company to begin investing in an extensive pipeline of projects. We welcome all of our new shareholders and look forward to updating them on the deployment of the IPO proceeds.”

Simon Farnsworth, Managing Director of Ironstone Asset Management Ltd, the Company’s Investment Adviser, said:

“This is the largest London listed UK REIT IPO since 2016 with its success underlining the significant opportunity we have identified in the UK life science property sector, which is not currently represented by a specialist business on the public markets. We will now act swiftly to advance the pipeline of income-producing opportunities and exciting development opportunities currently under exclusivity or in advanced negotiations. We look forward to updating the market in due course”

More information about the announcement is available here.