Cohen & Steers announced the initial public offering of the Cohen & Steers Real Estate Opportunities and Income Fund, raising $305 million in proceeds (excluding any exercise of the underwriters’ option to purchase additional securities) in the initial public offering of 15.25 common shares at $20 per share.
The fund has granted the underwriters an option to purchase an additional 2.29 million common shares at the public offering price within 45 days of the date of prospectus, Feb. 24. Assuming full exercise of the underwriters' option to purchase additional securities, which may not occur, proceeds could total $350.75 million. The fund’s common shares began trading Feb. 24 on the New York Stock Exchange under the symbol RLTY, and the offering is expected to close on Feb. 28, subject to customary closing conditions.
The fund’s primary investment objective is high current income. The fund’s secondary investment objective is capital appreciation. The fund
