Agellan Commercial IPO Said to Be Postponed Until January

Agellan Commercial Real Estate Investment Trust (0623351D) is postponing its initial public offering until January, according to two people with knowledge of the transaction.

The people asked not to be named because the details haven’t been made public. Agellan sought to raise C$154 million ($156.4 million) by selling units yielding 6.5 percent to 7 percent for C$10 each in an IPO that was slated to be priced today, according to sale documents.

Derek Dermott, president of Agellan, declined to comment on the company’s IPO plans.

The Toronto-based company was formed to own and operate industrial, office and retail properties in the U.S. and Canada.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.