Real estate fund for UK homeless raises 240 million pounds in IPO

LONDON (Reuters) - Home REIT, a vehicle for investing in properties that provide accommodation to homeless people, said on Thursday it has raised 240.6 million pounds from its initial public offering.

Shares in the company will start trading on the London Stock Exchange on Oct. 12, Home REIT said in a statement.

The company’s chairman Lynne Fennah said the listing was the largest by an investment trust this year, and the largest UK focused REIT IPO in over three years.

“We have a substantial, identified pipeline of high-quality, homeless accommodation assets... providing our new shareholders with secure income and an attractive capital return and at the same time contributing to the fight against homelessness in the UK,” Fennah said in a statement.

Reporting by Huw Jones; Editing by Rachel Armstrong