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Embassy Office Parks REIT $690 million IPO subscribed over two times

Updated : March 20, 2019 05:32 PM IST

Investors bid for about 175.8 million shares, or 2.47 times the 71.3 million on offer, stock exchange data showed.
The REIT, which owns offices that house multinational tenants such as JP Morgan and Google, will use proceeds of the IPO to reduce its debt and fund acquisition of assets, according to the IPO prospectus.
Embassy Office Parks REIT $690 million IPO subscribed over two times

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