21 Aug 2018

Investec advises on Yew Grove REIT plc IPO

Investec’s Dublin and London offices have advised on the first direct property IPO of 2018, helping Yew Grove REIT plc, an Irish real estate investment trust (REIT), to market.

Yew Grove REIT is dual-listed on Dublin’s Enterprise Securities Market (ESM) and London’s AIM market (AIM).


Yew Grove REIT will focus on investment in commercial real estate outside of Dublin’s central business district, including other regional towns, cities and technology parks.


Investec led the IPO, in which Yew Grove REIT raised €75m. Investec acted as financial adviser, sole bookrunner, ESM Advisor and NOMAD, and will continue to act as sole broker to the company going forward.


Tommy Conway, Investec Dublin, commented:


“This is a REIT which is likely to have a significant impact on the Irish market. The company’s investment strategy moves away from the Dublin CBD, in line with, and supportive of, the Irish Government’s Project Ireland 2040 policy, a theme that resonated well with investors.”


David Anderson, Investec London, commented:


“This recent IPO builds on Investec’s track record having led the Irish Residential Properties (IRES) REIT IPO in 2014. Our London and Dublin offices worked closely together on this IPO, and the dual listing significantly widened our addressable market of investors.”