Urban Exposure completes £150m equity raising and AIM listing

By James Wallace - Wednesday, May 09, 2018 8:26

Urban Exposure, a non-bank property development lender, begin trading on the AIM market today after completing a gross capital raising of £150m with institutional investors.

The company intends to use the net proceeds of the placing to lend to UK residential SME developers from its balance sheet and seed and expand asset management activities.

Urban Exposure will seek to capitalise on what it characterises as a “chronic housing shortage” in the UK, with less than half of the government’s 300,000 new homes target currently built each year.  Funding this shortfall will require as much as £20.8bn, according to Urban Exposure, which provides a multi-decade long pipeline of financing opportunities.

Liberum Capital is acting as nominated adviser and broker, and sole bookrunner in relation to admission.

Randeesh Sandhu, chief executive of Urban Exposure said: “We are delighted to begin trading on AIM today after an excellent reception during the IPO process. Urban Exposure has a clear strategy to provide finance to residential developers around the UK and we look forward to utilising the funds raised as a balance sheet for lending while continuing to grow our third-party asset management business.”

James Wallace is a freelance consultant and can be reached via Linkedin or email: jawallace32@gmail.com

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