Supported housing firm Independent Living to raise £150m in London IPO
Real estate investment trust Independent Living is set to float on the London Stock Exchange, in a bid to raise £150m.
The company, which seeks to address the shortage of high-quality supported housing, is currently undergoing an acquisitions spree to build up its initial portfolio of so-called “target assets”, the company announced today.
Potential acquisition opportunities have built an around £500m pipeline of assets, the company said.
Independent Living is targeting a dividend of 5p per share for the first two financial years and plans to grow the shareholder reward by seven to 10 per cent over the medium term.
The company’s housing is intended to support people with learning difficulties, mental health issues and physical disabilities, as well as domestic abuse survivors and asylum seekers.
The trust receives funding from the government to support rents, and has been granted annual uncapped inflation linked uplifts.