Top global advisors join IPSX
JLL become first members of London’s new real estate stock exchange
IPSX, the International Property Securities Exchange, today announced the names of the first advisory firms to join IPSX formally as members.
JLL will be the approved valuer to IPSX and will produce a Royal Institution of Chartered Surveyors (“RICS”) approved “Red Book” valuation report for inclusion in all IPO prospectuses. JLL will also be responsible for providing a valuation report every six months in respect of the underlying assets of each IPSX issuer.
Alan Ramsay, chief executive of IPSX UK Limited, said: “Our members are a valuable and essential part of our community and will play a vital role in the functioning of IPSX, both in terms of advising issuer clients on their IPOs and in supporting the trading of their shares in the secondary market. I am very pleased to welcome JLL among our first members and look forward to welcoming additional advisory members as we prepare our first IPOs for launch in the next few months.”
Hugo Raworth, director of JLL, said: “IPSX represents a highly significant innovation in the commercial real estate world and will provide owners and investors alike with an important new opportunity for capital raising and investment. We welcome this new dimension and look forward to bringing our considerable valuation experience and capabilities to bear in supporting issuers through the valuation aspects of the IPO process.”
IPSX is in discussions with a broad range of early potential issuers, including private equity real estate funds, sovereign wealth funds, major quoted real estate groups, and owner-occupiers. IPSX members are firms who play a key role in the Exchange and have met the membership eligibility criteria under the IPSX Rules for Members.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.co.uk