Life Science REIT plc Share Offer
This offer is now closed for applications through interactive investor
Result of Initial Public Offering
The Issue Price was set at 100 pence per Ordinary Share.
Life Science REIT plc (LABS) has successfully raised gross proceeds of £350 million, through its Placing, Offer for Subscription and Intermediaries Offer.
The Company received applications exceeding the £350 million maximum size of the Issue.
Application has been made for 350,000,000 Ordinary Shares to be admitted to trading on the Alternative Investment Market ("AIM") of the London Stock Exchange.
Allocations have been met in full, meaning customers will receive 100% of the amount they applied for.
Share allocations are being credited today (Wednesday 17 November 2021). Confirmation of allocations will be sent once the shares are showing on accounts.
Please note the allocation policy was set by LABS and not Interactive Investor.
Offer period
- The Offer Period for the Life Science REIT plc Share Offer closed at 12pm (noon) on Tuesday 16 November 2021.
Trading starts
- Admission and unconditional dealing in the Ordinary Shares is expected to commence at 8am on Friday 19 November 2021. There is no conditional dealing period.
- When admitted to trading, the new Ordinary Shares will be registered with SEDOL (Stock Exchange Daily Official List) number BP5X4Q2 and trade under the symbol "LABS".
- If you buy or sell Life Science REIT plc Shares after admission the relevant share dealing rate will apply.
Claire Boyle, Chair of Life Science REIT plc, said:
We are delighted to see such strong support from a broad range of institutional and retail investors for the Issue, the proceeds of which will enable the Company to begin investing in an extensive pipeline of projects. We welcome all of our new shareholders and look forward to updating them on the deployment of the IPO proceeds.
Simon Farnsworth, Managing Director of Ironstone Asset Management Ltd, the Company's Investment Adviser, said:
This is the largest London listed UK REIT IPO since 2016 with its success underlining the significant opportunity we have identified in the UK life science property sector, which is not currently represented by a specialist business on the public markets. We will now act swiftly to advance the pipeline of income-producing opportunities and exciting development opportunities currently under exclusivity or in advanced negotiations. We look forward to updating the market in due course.
Key information
| Issue price per share: | 100 pence |
| Minimum investment: | £1,000 (multiples of £1 thereafter) |
| Stock ticker: | LABS |
| SEDOL: | BP5X4Q2 |
Expected timetable
| Offer open: | 21 October 2021 |
| Offer close: | 16 November 2021 (12pm) |
| Result announced: | 17 November 2021 |
| Unconditional dealing starts: | 19 November 2021 (8am) |
Offer announcements
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto. It should be remembered that the price of the shares can go down as well as up and that investors may not receive, on the sale or cancellation of the shares, the amount that they invested. If you are in any doubt about the contents of this document or the Prospectus, you should consult your accountant, legal or professional adviser or financial adviser.
Interactive Investor Services Limited uses the Life Science REIT plc Prospectus in accordance with the Company's consent and the conditions set out in the Life Science REIT plc Prospectus.
Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Offer documents, including all the risks attached to investing in the Company before you apply.
"Life Science REIT plc" and the Life Science REIT plc logo are reproduced by kind permission of Life Science REIT plc. All rights reserved.
This announcement has been published by Interactive Investor Services Limited.
This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of 201 Deansgate, Manchester, M3 3NW, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.