BusinessLondon float jitters step up as property firm M7 delays IPOProperty firm M7 has extended a London Stock Exchange float timetable by two weeksLeon Neal/AFP/Getty ImagesRussell Lynch7 November 2017Jitters hit another London float on Tuesday as a property fund delayed its plans and slashed back cash-raising ambitions.Property firm M7 announced plans to raise up to £300 million a month ago with the float of a new tax-efficient real estate investment trust to pump funds into regional offices and warehouses.The company insists there has been a “great deal of investor engagement and interest” in the launch but the company — advised by Barclays and Akur Capital — has extended the float timetable by two weeks as well as setting its sights much lower to raise £150 million instead.The update from M7 comes days after two major initial public offerings have been shelved in a blow for the City of London.Last last week, ready-meals firm Bakkavor pulled its £1 billion launch and mobile-masts company Arqiva put its own £4.5 billion IPO on ice.Read MoreWH Smith hire turnaround veteran with package that could be worth £25mBlue Posts boss: If opening a pub becomes so risky, people just won't do itCulpeper pub boss: Rates system is not fit for purpose — and not fairSponsoredDiscover a hidden island paradise in the Indian Ocean Under M7’s new timetable, shares in the fund — seeded with £120 million in assets — will begin trading on November 30. Aviva Investors, meanwhile, on Tuesday announced plans to raise £200 million in another property fund float.MORE ABOUTIPOCommercial property
