ING is launching a UK Real Estate Investment Trust. The company’s shares will be listed on the London and Channel Islands stock exchanges an...

ING is launching a UK Real Estate Investment Trust. The company’s shares will be listed on the London and Channel Islands stock exchanges and will be offered to retail investors. It is targeting a gross dividend yield of 6.25 per cent and the minimum subscription is £2,000. Following the IPO the company is expected to have an initial market capitalisation of £305 million ($554 million). The aim is to provide investors with an attractive level of income along with the possibility of capital growth, ING said in a statement. The company will invest wholly in commercial property and will purchase up to 50 units.