On 1 December 2022, Life Science REIT Plc (""LABS"") announced its admission to the Official List and to trading on the premium segment of the Main Market.
LABS is a real estate investment trust focused on investment in UK life science properties. The transfer was part of the Directors' strategy which included gaining access to a larger pool of capital and broadening the appeal of the company to a wider range of investors.
It also makes it possible for the Company to be considered for eligibility for inclusion in a broader range of equity indices including the FTSE's EPRA and UK Index Series.
“It was a pleasure to have BDO act as reporting accountants for our move from AIM to the Main Market of the London Stock Exchange. The BDO team demonstrated their commercial knowledge of the real estate sector and adopted a pragmatic approach in working through the transaction during a period of UK economic uncertainty. Their communication, support and quality focused outputs provided valuable assurance to Management, the Board and the Sponsors.”
David Lewis, Operations and Finance Director of Ironstone Asset Management (Investment Adviser to Life Science REIT Plc)
BDO acted as reporting accountant on the transaction.
"At a time when the REIT industry has recently experienced significant volatility, the transaction is a positive strategic step for the business, which has grown rapidly since its IPO in 2022.
We were delighted to support the Ironstone and LABS teams with the transaction, which capped off a busy and exciting 2022 for the BDO real estate corporate finance team."
Simon Hall, Corporate Finance Partner, BDO LLP