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Spain's Axia Real Estate launches 400 mln euro IPO
June 26, 2014 / 2:55 PM / 3 years ago

Spain's Axia Real Estate launches 400 mln euro IPO

LONDON, June 26 (Reuters) - Spain’s Axia Real Estate SOCIMI has launched a 400 million euro ($545.34 million) initial public offering (IPO) and will use proceeds to acquire commercial property in Madrid and Barcelona, according to a term sheet seen by Reuters.

Citigroup and JB Capital Markets are the joint bookrunners on the deal and the shares will be listed in Madrid.

More than half of the offering will be subscribed to by a group of institutional investors, with hedge fund Perry Capital committing 105 million euros, according to the term sheet. ($1 = 0.7335 Euros) (Reporting by Vikram Subhedar; editing by Tom Pfeiffer)

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