Russia property fund lists on Channel Islands Securities Exchange
Raven Russia, the London Stock Exchange listed investor in Russian commercial property, has added a dual listing of its ordinary and preferred shares and warrants on the Channel Islands Securities Exchange (CISE), and announced a proposed £105.5m fundraising.
The fundraising is intended to involve a placing of new convertible redeemable preference shares, listed solely on the CISE, and traded on the LSE’s SETSqx platform.
The move reflects the location of the investment company and its employees on Guernsey, said Glyn Hirsch, group CEO.
He added that the fundraising is also intended to facilitate investments by international investors, who are interested in the ongoing opportunities to make investments in Russian property, despite the weakness seen in that country’s economy.
Raven Russia specialises in the purchase and development of warehouses in Russia, and their leasing to Russian and international tennants.