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Client Work

Global Real Estate Dividend Growers completes US$110 million IPO

Fasken
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Overview

Client

Middlefield Limited

On July 24, 2015 Global Real Estate Dividend Growers Corp. (the “Fund”) completed an initial public offering of 11,000,000 equity shares (the “Equity Shares”) at a price of $10.00 per Equity Share for gross proceeds of $110 million. The Fund is designed to provide holders of Equity Shares with stable monthly cash distributions and to grow distributions over time and enhanced long-term total return through Equity Shares capital appreciation of the Fund’s investment portfolio through an investment strategy which focuses primarily on investing in securities of issuers operating in the global real estate sector and related industries and that have exhibited sustainable dividend growth. The offering was made through a syndicate of agents co-led by CIBC, RBC Capital Markets and Scotiabank and including BMO Capital Markets, TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation, Manulife Securities Incorporated and Middlefield Capital Corporation. The Fund and its manager, Middlefield Limited, were advised by a team from Fasken Martineau consisting of Stephen Erlichman, John Sabetti, Daniel Fuke, Dylan Chochla (Securities) and Mitchell Thaw (Tax).

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