Max property group is planning IPO – US$ 230-300 million…
- Max Property Group is planning to float on London’s AIM market, raising 150 million to 200 million pounds ($228-303 million) to bag cut-priced assets in Britain’s stricken property market.
- Conditional dealing in shares in the opportunistic investment company, launched by a group of real estate veterans led by British entrepreneur Nick Leslau, is due to begin on May 21.
- The company will be chaired by Aubrey Adams, former chief executive of London-listed global property brokerage Savills and other executives the company include Mike Brown, former deputy chief executive of investor-developer Helical Bar
- “Difficult conditions in the UK property market present a compelling investment opportunity for those with sector experience and an in-depth understanding of long term supply and demand issues,” Adams said in a statement.
- Max Property will consider investment in all types of property over a five-year period, and will manage and sell on assets with a view to making a final shareholder return, subject to market conditions, over an investment cycle of about 7.5 years.
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