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Merlin Properties Trims IPO to €1.25 Bn As Interest Cools Down
27/06/2014 – Bloomberg
Facing diminishing apetitte of property investors, new Spanish Socimi (REIT-alike firm) Merlin Properties felt obliged to decrease the amount of its initial public offering to €1.25 billion, instead of originally planned €1.5 billion.
The trust will trade 125 million shares at 10 Euros each. It has already raised €600 million in committed funds from Moore Capital Management LLC, among other investors.
As per the information provided by debt-restructuring company Irea, private equity and other financial institutions more than doubled their investment in Spain in 2013, reaching €13.9 billion.
Credit Suisse Group AG (CSGN), UBS AG and Deutsche Bank AG coordinate and underwrite Merlin’s IPO. Freshfields Bruckhaus Deringer LLP act as legal advisors.
Original article: Bloomberg (by Ruth David)
Summary: AURA REE