Residential Secure Income, an investment trust focusing on social housing, plots £300m float on the London Stock Exchange

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Scheduled for 19 June, Resi plans to raise £300m as part of the initial public offering (IPO) (Source: Getty)

Residential Secure Income (Resi), a new investment group targetting social housing, is set to float on the main market of the London Stock Exchange next month.

Scheduled for 12 July, Resi plans to raise £300m as part of the initial public offering (IPO).

The company intends to become a real estate investment trust (Reit) and is eyeing up investments in the residential property sector including social housing providers housing associations and local authorities.

Read more: Revealed: London areas where house prices have risen and fallen the most

Resi said investment in the social housing sector will provide "secure, long-dated, inflation-linked income returns with the potential for capital growth and with low sensitivity to residential house prices".

Baroness Dean of Thornton le Fylde, chairman of Residential Secure Income plc, said: “Residential Secure Income aims to become a long term capital partner of housing associations and local authorities, enabling them to increase their development of new homes by re-cycling capital whilsecontinuing to manage, maintain and rent out the homes.

"Resi represents a highly scalable, long-term investment opportunity to generate secure, inflation-linked returns for shareholders with the potential for capital growth.”

Tags: IPOs