Brixmor Property Group (BRX), a Blackstone-backed operator of the US' largest wholly-owned portfolio of grocery-anchored shopping centers, raised $825 million by offering 41.25 million shares at an offer price $20 per share. Brixmor commands an implied market cap of $5.96 billion, which is large enough to qualify the company for inclusion into the Renaissance IPO ETF at the market’s close on November 5th, 2013.
The Renaissance IPO ETF is a portfolio of U.S.-listed newly public companies that provides exposure to securities under-represented in core U.S. equity portfolios. IPOs that pass Renaissance Capital’s formulated screening process are weighted by float, capped at 10% and removed after two years.