Randeesh Sandhu, CEO of Urban Exposure
A successful IPO will see the specialist residential development finance and asset management company float on the junior AIM market.
Urban Exposure plc, a specialist residential development finance and asset management company, has announced its proposed admission to trading on the London Stock Exchange’s Alternative Investment Market (AIM).
The company is looking to place 150,000,000 new ordinary shares at a price of £1 each. On admission, the company will have 165,000,000 ordinary shares in issue with company management and employees owning approximately 9%.
Randeesh Sandhu, chief executive officer of Urban Exposure plc, said: “The Urban Exposure team has a strong track record of delivering funding to developers of a broad range of housing projects around the UK.
“The UK faces a chronic housing shortage, with only 138,650 homes currently built each year, far below the government’s 300,000 target. Meeting this shortfall will require an estimated £208bn of additional funding over the next 10 years and Urban Exposure is well placed to help meet this demand.
“I am delighted with the reception we have received in our IPO. I would like to thank our new investors, employees and business partners for their support.”
William McKee CBE, chairman of Urban Exposure plc, added: “Urban Exposure offers investors a unique and attractive way to gain exposure to the high margin structural growth opportunity within the UK residential development finance sector.
“The award-winning Urban Exposure team has the experience and capabilities as both a lender and asset manager of third party funds to capitalise on the reduction in traditional bank lending to the sector since the global financial crisis.”
Admission and commencement of dealings on AIM in the ordinary shares are expected to take place at 8.00 am on 9 May 2018 under the ticker UEX.
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