Ordinary shares of Target Healthcare REIT, an investor in UK care home assets, have listed on the London Stock Exchange.

Share capital of 45,656,029 ordinary shares at 100p have each have been admitted to trading on the LSE’s main market for listed securities.
 
Target Healthcare’s recent offer for subscription raised GBP45.6m from institutional investors, wealth managers and private investors.
 
Target Healthcare will be using the proceeds of the offer to invest in a portfolio of purpose built new and nearly new care homes with rents set at a level based on a sustainable trading performance.
 
Target Advisers is providing the company with specialist healthcare asset and fund management expertise to source and actively manage properties which meet the investment operating criteria of the company while seeking to maximise returns to shareholders.
 
Target Healthcare expects to be fully invested within a period of six months after admission, having already agreed non-legally binding indicative terms to acquire a portfolio of three properties for a consideration in the region of GBP14m.
 
The company intends to pay an initial annual dividend of six per cent to shareholders once fully invested.