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Clipstone IPO to raise £150m
A LOGISTICS real estate investment trust is seeking to raise an initial £150m in a listing on the London Stock Exchange as it looks to tap into the boom in UK online retailing.
Clipstone Logistics Reit confirmed yesterday that £72m of properties would be acquired upon admission, of which the majority were warehouses let to retailers such as TK Maxx. Following the deal, Clipstone will have around will have an estimated £75m of equity to invest.