The planned listing of Birmingham’s Mailbox on the IPSX market has been postponed as asset owner M7 Real Estate enters takeover talks with a potential acquirer.
The IPO of Mailbox REIT – the first listing on IPSX – had already been delayed twice, once due to an unexpectedly high level of interest from investors, and again to give the company more time to close a deal with IWG to take space in the building.
Now, with M7 in exclusive talks with Oxford Properties about a possible purchase of the company, the IPO has been postponed, with all subscriptions for shares set to be returned to would-be investors. M7 is the Mailbox’s current owner and would act as asset manager once it was listed.
