Suburban Office REIT Workspace Property Trust postpones $527 million IPO

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Workspace Property Trust, a recently formed REIT focused on suburban office properties, postponed its IPO on Tuesday. It had filed to raise $527 million by offering 39 million shares at a price range of $12 to $15.

The Horsham, PA-based company was founded in 2015 and booked $153 million in sales for the 12 months ended June 30, 2017. It had planned to list on the NYSE under the symbol WSPT. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, KeyBanc Capital Markets, Barclays, Citi, BMO Capital Markets, Capital One Securities and JMP Securities were set to be the joint bookrunners on the deal.

The article Suburban Office REIT Workspace Property Trust postpones $527 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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

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