Global Real Estate Services Corporation wants to raise up to $120 million.
Gmul Investment Co. Ltd. (TASE: GMUL) is investing $42.5 million in Global Real Estate Services Corporation (GRES) to acquire 30% of the company.
GRES is a Delaware-registered special purpose acquisition company (SPAC) that plans to raised $96-120 million in an IPO on London’s Alternative Investment Market (AIM). The company will issue 20 million units at $6 per unit. Flotation costs are estimated at $7 million. The company plans to acquire real estate and property services companies worldwide.
Published by Globes [online], Israel business news - www.globes-online.com - on May 4, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008