Avington files for $110 mln IPO of real estate-focused SPAC
Affiliates of U.K.-based investment bank Avington Group have filed a preliminary prospectus with Canadian securities regulatory authorities for an initial public offering (IPO). The IPO is targeted to raise a total of $110 million for Avingstone Acquisition Corp, a special purpose acquisition corporation (SPAC) focused on hospitality and related real estate opportunities in the Americas and Europe with an enterprise value ranging from $250 million to $500 million or more. The Avingstone SPAC IPO follows IPOs launched for other SPACs this year, including Acasta Enterprises Inc, Alignvest Acquisition Corp and Gibraltar Growth Corp.
8 September 2015•6 mins read
