Home REIT seeks to raise at least 250m pounds via IPO

Home REIT announced its intention to seek at least £250m via a float on the premium segment of the main market of the London Stock Exchange and to become a real estate investment trust.

The company's focus is on providing accommodation for Britain's homeless while aiming for inflation-adjusted income and capital returns.

Its accommodation assets will be let or pre-let on inflation-linked leases of 20 to 30 years to registered charities, housing associations, community interest companies and other regulated organisations with a proven track record in the sector.

Those clients in turn receive housing benefit or other support from local and central government.

The company intends to issue 250m shares of 100.0p each through a combination of a placing, offer for subscription and intermediaries offer.

Alvarium Fund Managers will manage the company.

The number of shares issued may increase to 300m depending on demand.