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Reuters
UK property trust IPO pulled after demand falls short
LONDON, June 12 (Reuters) –The London float of a British property trust has been pulled after the owners said they failed to reach the 250 million pound ($319 million) minimum required for the IPO to proceed.
Special Opportunities REIT said on Wednesday it did not believe it was in the best interests of investors to reduce the minimum and said it would instead acquire properties using private capital.
Separately, commercial property owner Great Portland Estates GPEG.L said it had completed its 350 million pounds rights issue, but added its bank underwriters may have to pick up a small number of the shares offered.
($1 = 0.7847 pounds)
Reporting by Iain Withers, editing by Sinead Cruise
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