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BSR closes international IPO and raises USD135.0m on Toronto Stock Exchange.

Global Banking News-June 19, 2018-BSR closes international IPO and raises USD135.0m on Toronto Stock Exchange

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BSR revealed on Monday the completion of an International Initial Public Offering (IPO), which makes it public on the Toronto Stock Exchange (TSX) as a real estate investment trust (BSR REIT), trading under the ticker symbol HOM.U.

Also, the company said that the IPO raised cash proceeds of USD135.0m and laid the groundwork for its growth. BSR REIT units began trading on 18 May 2018 as well, which day marked the end of the "quiet period" required for such international IPOs in the US.

Further, BSR REIT owns and operates multifamily garden-style properties in Texas, Oklahoma, Arkansas, Louisiana and Mississippi, USA and in the two years before the IPO grew the portfolio's unit count by 14%. Its employees will continue to work in the US, with leadership and operations based at its headquarters.

A real estate investment trust, BSR owns and operates garden-style, multifamily communities in the US. Founded in 1956 with the formation of Bailey Corporation in Little Rock, Arkansas, it is headquartered in the historic Union Station in Little Rock.

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Publication:Global Banking News (GBN)
Date:Jun 19, 2018
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