London & Stamford Property, a new closed-end investment company, began trading on London Stock Exchange's junior AIM market on Wednesday after one of the largest real estate flotations in the British capital this year. The offer price of £1 per share valued the company at £285 mln (EUR 408 mln) at the start of the day's trading. 'The company intends to use the net proceeds of the placing for further real estate investments principally in the UK and it will also consider opportunities overseas,' L&S said in a statement.
Premium subscriber content – please log in to read more or take a free trial.
