Aviv REIT Inc. announced Monday that it has begun an initial public offering of 13.20 million shares of its common stock. The estimated price range of the common stock is between $18.00 and $20.00 per share.
The underwriters have the option to purchase up to an additional 1.98 million shares of common stock to cover overallotments, if any. The company’s common stock has been approved for listing on the New York Stock Exchange under the symbol “AVIV.”
The company said it intends to use the net proceeds from the offering to repay certain indebtedness and for general corporate purposes, including the potential acquisition of additional properties in the ordinary course of business.
Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers of the offering, and Citigroup, RBC Capital Markets, SunTrust Robinson Humphrey, RBS and CSCA will act as co-managers.
Click here to receive FREE breaking news email alerts for AVIV REIT, INC. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News