First property to be listed on the IPSX stock exchange

13 Jan 2020

It has been reported that The Mailbox, a large retail centre and the home of Harvey Nichols and the BBC in Birmingham, is being lined up as the first property to be listed on the London based IPSX stock exchange and is expected to receive an independent valuation of more than £200 million.

The IPSX describes itself as the world’s first regulated securities exchange, dedicated to IPOs and secondary trading of companies owning single institutional grade real estate assets or multiple commercial property assets of a very similar type. 

IPSX obtained recognition by the UK Financial Conduct Authority (FCA) as a Recognised Investment Exchange at the beginning of 2019. To be admitted to the IPSX Prime market, a company must:
  • Have an initial market capitalisation of at least £25m
  • Appoint an IPSX Lead Adviser to manage the IPO process, as well as an IPSX Approved Valuer and IPSX Market Maker
  • Sell down a minimum of 25% of the company’s shares at the point of admission
  • Limit its debt loan to value ratio to 40%
  • Prepare a prospectus (including a valuation report) for approval by the FCA
  • Adopt a corporate governance code
  • Have audited their accounts
In addition, IPSX Wholesale is a market exclusively for professional investors, which is capable of accepting a variety of different corporate structures within a flexible regulatory environment.

DMH Stallard’s Corporate Team are experienced in advising companies and financial advisers in relation to listings, secondary fundraisings, private placings and transactions on London’s Main Market, AIM and the NEX Growth Market.  Our Real Estate team also acts for property companies, developers and providers of finance on property transactions, secured lending and the property elements of corporate sales and acquisitions.

For more information on this topic or for information on other services offered by DMH Stallard, please contact Nick Williams, Partner in our London Corporate Team.

Further reading

IP in pole position in 2021

Blog
12/01/2021
Victoria Watt takes a look at a hat trick of car-related cases that concluded last autumn that place IP firmly in the headlights
Read more Read

Happy New Year for leasehold property owners

Blog, Legal Updates
07/01/2021
Lawrence Morley looks at government reforms that will make it easier and cheaper for leaseholders to buy  their homes
Read more Read

Mission accomplished! DMH Stallard completes charity trek to and from the North Pole in aid of St Catherine’s Hospice

Blog, News & PR
24/12/2020
DMH Stallard completes Christmas charity trek from the North Pole to St Catherine's and back, raising money for a fantastic cause.
Read more Read

(Supply) chain reaction

Blog, News & PR
23/12/2020
It’s no time to shy away from chasing debt when it’s your cashflow under pressure. Kelly Mills provides the focus.
Read more Read
  • Brighton Office

    1 Jubilee Street

    Brighton

    East Sussex

    BN1 1GE

  • Gatwick Office

    Griffin House

    135 High Street

    Crawley

    West Sussex

    RH10 1DQ

  • Guildford Office

    Wonersh House

    The Guildway

    Old Portsmouth Road

    Guildford

    Surrey

    GU3 1LR

  • Horsham Office

    Ridgeland House

    15 Carfax

    Horsham

    West Sussex

    RH12 1DY

  • London Office

    6 New Street Square

    New Fetter Lane

    London

    EC4A 3BF

  • Get in touch