NewRiver, the specialist in UK retail property investment is planning to become the biggest initial public offering in London so far this year.

NewRiver Retail is seeking to raise £250m through the issue of 110m shares this month on Aim. The company, which is advised by Merrill Lynch, expects its shares to be admitted to trading on 24 June.

The flotation comes less than a month after Max Property Group became the UK’s first IPO of the year. The real estate investment company raised £200m on AIM.

The board of NewRiver includes several well-known names who are planning to use their 'extensive sector knowledge' to take advantage of opportunities in the UK property market, with a particular focus on the retail sector.

Financial Times, Daily Telegraph