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Initial Public Offering
Initial Public Offering
(Yong Hian Lim/Getty Images/iStockphoto)

Private REIT’s plan for a public listing raises eyebrows

Investors in one of Canada’s largest private real estate investment trusts have raised questions about management’s timing for going public.

Based in Victoria, with roughly $180-million in client funds, IGW REIT is converting to a public company that will be known as League Financial Partners. But instead of raising cash in the process, which most companies do during an initial public offering, League will simply look to list its shares on the Toronto Stock Exchange.