Babcock & Brown to issue shares

BABCOCK & BROWN GPT European Retail Fund Limited announced IPO offer price range of €15.20 to €17.00 per ordinary share.

The company intends to issue over 24.7 million ordinary shares implying an offer size of around €400m at the mid-point of the offer price range.

The board of directors anticipates providing shareholders with a total annual shareholder return of 11% and an annual dividend yield of approximately 5.5% of the company’s initial net asset value.