Brixmor Property Group scheduled to enter Renaissance IPO ETF

By Renaissance Capital,

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Brixmor Property Group ( BRX ), a Blackstone-backed operator of the US' largest wholly-owned portfolio of grocery-anchored shopping centers, raised $825 million by offering 41.25 million shares at an offer price $20 per share. Brixmor commands an implied market cap of $5.96 billion, which is large enough to qualify the company for inclusion into the Renaissance IPO ETF at the market's close on November 5th, 2013.

The Renaissance IPO ETF is a portfolio of U.S.-listed newly public companies that provides exposure to securities under-represented in core U.S. equity portfolios. IPOs that pass Renaissance Capital's formulated screening process are weighted by float, capped at 10% and removed after two years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: BRX

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