Mailbox extends £63m IPO timetable
The board of the Mailbox has announced an extension to the timetable for its proposed £63m IPO due to “significant interest” from retail investors.
A two-week extension to the process has been put in place after the board expressed its “desire to maximise retail investment”. It is now planned for Mailbox REIT to be floated on November 5.
The company announced the plans earlier this month, saying it would be placed on the International Property Securities Exchange (IPSX), a relatively-new regulated exchange that is dedicated to commercial property.
The IPSX plan had been reported in January but has been delayed by the impact of Covid-19.
The company said the float will enable investors to gain exposure to the 698,000 sq ft development, which it said was valued at £179m in August.
