Real estate stock exchange IPSX to close after four years

Its three listings are considering alternatives


Real estate stock exchange International Property Securities Exchange (IPSX) is due to close after struggling to find new investment.

The exchange, which provides investors with access to single-asset real estate investment trusts (Reit), was launched in 2019 and currently has three listings – Mailbox Reit, M7 Regional E-Warehouse Reit, and BWP Reit.

Birmingham-based Mailbox Reit listed on the exchange in May 2021. Since then, its share price has fallen over 20%.

Stephen Barter, chair of Mailbox Reit, said: “While we are sad to learn that IPSX is to wind down, we have been preparing for the possibility of such an outcome.

“We are finalising arrangements for listing and trading on an alternative platform, where access to trading and liquidity will be improved, while protecting the interests of all our shareholders. In the meantime we note that IPSX will remain open, while it winds down its operations”.

‘Writing on the wall’

Both M7 Regional E-Warehouse Reit and BWP Reit also issued updates confirming they are looking into alternative solutions for listing following IPSX’s closure.

IPSX said its markets will continue to operate until further notice.

Richard Williams, property analyst at QuotedData, said: “After four years and just three listings, the writing was on the wall for the IPSX. It can blame bad luck to some degree, with rising interest rates and economic uncertainty choking off new investment, but it seems to me that from the start it was offering a solution to a problem that did not exist.

“Investors can gain access to established Reits through the many established stock exchanges that offer greater liquidity.”

See also: Home Reit board to depart in next 12 months

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