American Healthcare REIT Gets $672 Million at IPO’s Low End
- REIT’s listing continues a run of modest IPO performances
- Ten companies are set to go public this week on US exchanges
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American Healthcare REIT Inc. sold shares in an initial public offering at the bottom of a marketed range to raise $672 million, adding to a run of modest performances as more companies move ahead with new listings.
The Irvine, California-based senior housing and assisted living property sold 56 million shares for $12 each on Tuesday after marketing them for $12 and $15, according to a statement confirming an earlier report by Bloomberg News. At that price, the real estate investment trust has a market value of about $1.5 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission.