LONDON (Reuters) – Kenmore European Industrial Fund, a Guernsey-registered fund, said on Monday it would raise 140 million pounds via a London initial public offering to invest in European industrial properties.
The closed-ended investment fund, which expects trading to start on September 26, plans to place up to 140 million shares at 100 pence a share, it said in a statement.
It aims to have property portfolios worth 316 million euros (215 million pounds), mainly in France, Norway and the Netherlands, by its September listing and to make a further investment of 268 million euros within a year.
The IPO may signal a return of property companies into equities market as many have postponed their listing since May after markets turned volatile.
