IPSX, the International Property Securities Exchange, the world's first regulated commercial real estate stock exchange, has chosen London-based law firm Howard Kennedy as the latest approved lead adviser.
Howard Kennedy will be able to act as both lead adviser and legal adviser on IPSX transactions, working with issuers on Initial Public Offerings (IPOs) on admission to trading on IPSX, advising on regulatory requirements and disclosure, as well as supporting issuers post-admission.
Those seeking admission to IPSX are required to appoint a lead adviser for an IPO with that legal advisor assessing whether the applicant meets admission requirements.
The law firm called it ‘another milestone’ after establishing as an FCA-approved sponsor – the only English law firm with this accolade.
Roger Clarke, CEO of IPSX, said: 'The successful appointment of Howard Kennedy as lead adviser for IPSX represents another step forward for the exchange and highlights the growing number of Issuers who are seeking guidance on admission to IPSX.’
‘IPSX is growing as a capital markets venue for owners looking to fractionalise assets and investors seeking income-producing, institutional grade real estate. Issuers are searching for fresh avenues to release equity from their assets while still retaining flexible ownership. This is a challenge in the current economic climate but one IPSX can help with.’
Marc Proudfoot, partner in Howard Kennedy’s capital markets team, added: ‘With our ability to act as both Lead Adviser and Legal Adviser, we will be able to help issuers navigate key areas of the IPO process while continuing to support them following admission.’