LXB Retail Properties raises $179.68 million through IPO

Tue. October 27, 2009; Posted: 02:16 PM

Oct 27, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- RTAP | Quote | Chart | News | PowerRating -- LXB Retail Properties Plc, a UK-based closed-ended real estate investment company, has completed its initial public offering (IPO) of 110 million ordinary shares at a price of GBP1 per share raising gross proceeds of GBP110 million.

Update on October 20, 2009:

LXB Retail Properties has priced its IPO of 110 million ordinary shares at a price of GBP1 per share to raise gross proceeds of GBP110 million.

The company has granted the underwriters an option to purchase 4.215 million shares to cover over-allotments, if any.

Announcement (October 9, 2009):

LXB Retail Properties is planning to raise GBP100 million from its proposed IPO of shares.

LXB Retail Properties intends to list its shares on the Alternative Investment Market (AIM).

J.P. Morgan Cazenove Limited is acting as book-runner, lead manager and joint broker, while Oriel Securities is acting as co-lead manager and joint broker to LXB Retail Properties on the IPO. Buchanan Communications is acting public relations advisor to LXB Retail Properties.

Deal Value (US$ Million) 179.68
Deal Type                IPO
Sub-Category             Completed
Deal Status              Completed: 2009-10-23

Deal Participants

Target (Company) LXB Retail Properties Plc

Deal Rationale

LXB Retail Properties intends to use the proceeds from the IPO to acquire retail parks.

Offer Price ($ per share) 1.63
No. Shares Issued         110000000

For full details for RTAP click here.

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