Life Science property trust to trade up AIM for London’s main market
Life Sciences Real Estate Investment Trust is set to trade up the AIM to list on London’s main market.
Bosses at the trust said the move is in the “best interests” of the company and shareholders, after the pandemic threw life sciences into the top ranks of investor and government interest.
It means the firm, which has a portfolio valuation of over £400m, will have access to a larger pool of capital and widen the scope of its potential investors.
The company’s admission now depends on the approval from the Financial Conduct Authority, which bosses expect to by early December.
Life Sciences has laboratory and office spaces across the so-called ‘golden triangle’ – London, Oxford Cambridge, which chairwoman Claire Boyle said has “significant growth potential”.
The “milestone” comes 12-months after the company first listed on AIM, Boyle continued.
“We look forward to joining the main market with the anticipated benefits of a potentially larger pool of capital to further improve liquidity, enhance the company profile and consideration for eligibility to be included in a broader range of equity indices,” she added.
Admission is not expected to rely on any shareholder approval.