Stride's Investore IPO priced at top of the range

Tue, 21 Jun 2016

By Paul McBeth June 22 (BusinessDesk) - Stride Property's plan to spin out and list its Investore Property subsidiary has been priced at the top of the range by institutional investors in an initial public offering set to raise $185 million. The IPO has been priced at $1.49 a share after the bookbuild was completed, with $170 million allocated to institutional investors and brokers, and $15 million set aside for eligible Stride shareholders, the property investor said in a statement. Investore also got commitments to subscribe for the fu...

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