RESIDENTIAL property lender Urban Exposure yesterday became the latest company to scrap plans to float, blaming
The investment firm, founded by former Deutsche Bank risk analyst Randeesh Sandhu, had planned to raise £500m to help fund the construction of more homes in
However, in a statement yesterday, the group said it had decided not to proceed "due to the prevailing IPO backdrop".
"Management received an encouraging response from prospective investors and the process has resulted in ongoing discussions with a number of them to provide private funding to the wider
The news marks the latest in a run of failed IPOs, including industrial property firm Clipstone, which pulled plans last week.
Student property fund Brandeaux, retailer Fat Face and
Urban Exposure has signed £476m of financing deals and has a £3bn pipeline of further projects equal to 8,000 homes, which it said will be financed by private funding arrangements already in place.
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