This Week's IPO: Legacy Healthcare Properties Trust

Aug.16.10 | About: Legacy Healthcare (LRP)

Legacy Healthcare Properties Trust (NYSE:LRP), a newly formed REIT that will own six senior housing facilities, plans to raise $175 million by offering 8.75 million shares at an estimated price of $20 per share. At the proposed IPO price, Legacy Healthcare Properties Trust will command a market value of $183 million. Legacy Healthcare Properties Trust booked $18 million in sales last year. The Orlando, FL-based company plans to list on the NYSE under the symbol LRP. Jefferies & Co. (JEF) and Stifel Nicolaus (NYSE:SF) are the lead underwriters on the deal.

Last week, there were 5 IPO pricings. MakeMyTrip Limited (NASDAQ:MMYT), the largest online travel company in India, was the week's winner, ending up 79% from its IPO price.