Max Property Group has listed on The Channel Islands Stock Exchange (CISX) on a primary basis and the issue of its shares has been claimed to be the largest initial IPO in Europe this year.
The Jersey incorporated closed ended property investment company is also said to be the first IPO to have listed in the UK market since December last year. Max Property is managed externally by Prestbury Investments, led by Nick Leslau and Mike Brown. The company has raised £220m and has the backing of investors Och-Ziff, which has committed to invest £35m at offer price. The management team and partners have committed to invest a further £25m. Conditional dealings began on 21 May on the Alternative Investment Market (AIM), which has a secondary listing. The CISX has over 3,000 list...
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