Residential Secure Income’s £180 million initial public offering

Reed Smith advised Jefferies International, a leading global investment bank, in its capacity as sponsor and sole bookrunner on a £180 million initial public offering (IPO) for Residential Secure Income (ReSI), a newly established REIT operating in the social housing sector.

The fundraising involved a placing and offer for subscription in key European jurisdictions and a private placement to institutional investors in the United States.

Admission to trading on the London Stock Exchange’s Main Market for listed securities and to listing on the Premium Listing segment of the Official List of the UK Listing Authority will become effective on 12 July.

Reed Smith advised Jefferies International on the deal with a team led by Delphine Currie (picture), alongside Daniel K. Winterfeldt, Tim Dolan, Gareth Amdor, Johnathan P. Webber and Trish O’Donnell.

Involved fees earner: Delphine Currie – Reed Smith; Johnathan Webber – Reed Smith; Tim Dolan – Reed Smith; Trish O’Donnell – Reed Smith; Daniel Winterfeldt – Reed Smith; Gareth Amdor – Reed Smith;

Law Firms: Reed Smith;

Clients: Jefferies;