Blackstone's Brixmor expects IPO to be priced at $19-$21/share
(Reuters) - Brixmor Property Group Inc, a shopping center operator owned by Blackstone Group LP (BX.N), said it expected its initial public offering to be priced between $19 and $21 per share, raising about $790 million.
At the top end of the expected price range, the REIT would be valued at about $4.61 billion. Brixmor, which first filed for an IPO in July, is offering 37.5 million shares.
Blackstone has recently moved aggressively to sell or take public its real estate assets. It filed in September to take U.S. hotel operator Hilton Worldwide Inc public and also registered hotel chain Extended Stay America Inc for an IPO.
Brixmor has 521 shopping centers, which span the country from California to Maine, are anchored chiefly by supermarkets.
The company intends to list on the New York Stock Exchange under the symbol "BRX".
Bank of America Merrill Lynch, Citigroup, JP Morgan, Wells Fargo Securities and Barclays are among the lead underwriters for the IPO.
(Reporting by Avik Das in Bangalore; Editing by Sriraj Kalluvila)
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