Real estate stock exchange IPSX to wind down operations

investmentweek.co.uk:

IPSX had just three companies listed, including Mailbox REIT, which was the first to list on the exchange in May 2021, M7 Regional E-Warehouse REIT and BWP REIT.

The exchange, which launched in 2019, was dedicated to the initial public offering and secondary market trading of real estate investment trusts owning single institutional grade commercial real estate assets, or a group of multiple assets with commonality.

IPSX had just three companies listed, including Mailbox REIT, which was the first to list on the exchange in May 2021, M7 Regional E-Warehouse REIT and BWP REIT.

The firm said its secondary market operations will continue through the wind-down period of 90 days from today (5 September) and the buying and selling of shares in its listed REITs will continue as normal. IPSX has been contacted for comment. 

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Stephen Barter, chair of Mailbox REIT, a single mixed-use asset in Birmingham, said: «While we are sad to learn that IPSX is to wind down, we have been preparing for the possibility of such an outcome. 

»We are finalising arrangements for listing and trading on an alternative platform, where access to trading and liquidity will be improved, while protecting the interests of all our shareholders."

M7 Regional E-Warehouse REIT, which invests in a diversified portfolio of warehouse properties across the UK, said it was «considering all options available to the company so as to maintain its REIT status», including the private REIT structure, alongside alternative listing platforms.

Meanwhile, BWP REIT, a single asset REIT that owns Bridgewater Place in Leeds, is also investigating alternative platforms for listing, and said it believed there are «a number