Mar 24 2010
Metric Property Investments plc ("Metric" or the "Company"), a UK-incorporated specialist retail property investment company, today announces the successful completion of its Initial Public Offering ("IPO") and that admission to trading on the main market of the London Stock Exchange ("Admission") under the ticker "METP" took place at 8.00 a.m. this morning.
Metric successfully raised £175 million and is a real estate investment trust ("REIT") on Admission. The Company will use the proceeds to take advantage of the significant opportunities for value creation that the Directors believe exist in the retail sector as a result of the current cyclical downturn and structural re-pricing. The Company's objective is to generate attractive returns with sustainable income and strong capital appreciation through its occupier-led, active management strategy and the Property Directors' strong retailer, property investor and banking relationships.
The full article can be found in the attached file.
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