A Colorado-based senior housing company announced Monday its plans to go public, seeking to generate up to $740 million through its stock market debut.
Janus Living, headquartered in Denver, revealed it will offer 37 million shares with pricing set between $18 and $20 per share. The real estate investment trust specializes in senior housing properties and is being spun off from healthcare-focused REIT Healthpeak Properties.
The timing comes as new stock offerings have significantly decreased in recent weeks, with ongoing Middle East tensions creating market uncertainty that has made investors cautious and discouraged companies from moving forward with public offerings.
Bank of America Securities and J.P. Morgan will serve as the primary underwriters managing the stock offering. Once complete, Janus Living plans to begin trading on the New York Stock Exchange using the ticker symbol ‘JAN’.
