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Getting ready for a real estate IPO on IPSX

Joining a public market is an important decision for prospective issuers that will require careful consideration by the asset owners, its management team and professional advisers.

A prospective issuer will want to take proper advice and will need to identify the objectives of a real estate IPO before considering whether an admission to trading on IPSX Prime best meet its needs.

For a prospective issuer seeking to execute a real estate IPO on IPSX Prime, it is anticipated that the admission process will take approximately 8-12 weeks from the prospective issuer taking the decision to IPO and having appointed advisers to the date of admission. The key stages of a real estate IPO, including the preparation of a prospectus, are set out in the timetable below:

Preparation of Materials

Engage IPSX Lead Adviser
Engage Approved Valuer
Engage bookrunners
Prepare equity story
Prepare roadshow presentation
Agree target anchor investors

2 weeks

Pilot Fishing

Pre-announcement roadshow to build relations with potential cornerstone investors and allow for early indications as to possible interest

3 weeks

Investor Education

Intention to float announced
Sales desk briefing
Investor education
Ongoing feedback to issuer

3 weeks

Roadshow

Daily meeting with institutions
Revisits to pre-marketing investors
Detailed daily feedback

Public Offer

Target retail/private wealth managers
Regional meetings to maximise demand

3-4 weeks

Corporate Structure, Legal, Financial. & Due Diligence Processes

Corporate & tax structuring
Board Structure
(and relevant committees)
Articles of Association

Prospectus drafting and verification
UKLA prospectus approval, IPSX admission documents and eligibility review
Legal and financial due diligence
Placing/underwriting agreement

Bookbuilding/pricing/allocations
Listing/admission application
Settlement/closing

2 weeks

6 weeks

3-4 weeks

2 weeks

Preparation of Materials

Engage IPSX Lead Adviser
Engage Approved Valuer
Engage bookrunners
Prepare equity story
Prepare roadshow presentation
Agree target anchor investors

3 weeks

Pilot Fishing

Pre-announcement roadshow to build relations with potential cornerstone investors and allow for early indications as to possible interest

3-4 weeks

Roadshow

Daily meeting with institutions
Revisits to pre-marketing investors
Detailed daily feedback

Public Offer

Target retail/private wealth managers
Regional meetings to maximise demand

2 weeks

Corporate Structure, Legal, Financial. & Due Diligence Processes

Corporate & tax structuring
Board Structure (and relevant committees)
Articles of Association

6 weeks

Prospectus drafting and verification
UKLA prospectus approval, IPSX admission documents and eligibility review
Legal and financial due diligence
Placing/underwriting agreement

3-4 weeks

Bookbuilding/pricing/allocations
Listing/admission application
Settlement/closing

Contact

Roger Clarke

Group Chief Executive Officer

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Contact

Birchin Court, 20 Birchin Lane
London EC3V 9DU

1 Farnham Road
Guildford GU2 4RG

International Property Securities Exchange is the trading name of IPSX Group Limited. IPSX Group Limited (No. 08846330) is a limited company registered in England and Wales with a registered office at 20 Birchin Lane, London, EC3V 9DU, United Kingdom.