Welpic bids to raise £100m on AIM

West End of London Property Investment Company has announced plans to float on the AIM stock market in a listing intended to raise £100 million.

The Schroders-managed, Jersey-domiciled fund owns £873 million worth of investments in 12 properties in the West End and midtown areas of London. Dealing in the shares is scheduled to commence on 5 February and the fund is aiming to increase its market capitalisation to more than £250 million in the next 18 months to two years. If it succeeds, Welpic intends to seek admission to the London Stock Exchange’s main market.

“Welpic provides investors with a listed and tradable security that gives direct exposure to an established portfolio of West End and midtown London assets,” said Welpic head of property William Hill.