TransGlobe, others expected to go public on Toronto Exchange

02/23/2010 | Vancouver Sun (British Columbia), The

There are about $500 million worth of REIT IPOs expected on the Toronto Stock Exchange in the next few weeks. TransGlobe Property Management is expected to go public with an IPO estimated to be worth $192 million to $239 million, according to sources. The industry expects demand for the offerings despite the problems in some parts of the sector. "I think real estate investment trusts proved their worth in this dry spell. They kept their vacancy rates [low] and most of them continued their distribution," said John O'Bryan, vice chairman of CB Richard Ellis.

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Vancouver Sun (British Columbia), The

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