GCP Co-Living REIT pauses London IPO due to Russia-Ukraine crisis

(Reuters) – GCP Co-Living REIT on Thursday decided to pause the process of its initial public offering (IPO) in London due to the Ukraine-Russia crisis, saying it would return the money to those who have already subscribed.

The company, which had planned to raise 300 million pounds ($401.43 million) in gross proceeds from the IPO, said it would not be accepting any more subscriptions and would notify the market once it restarts the process to go public.

($1 = 0.7473 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Amy Caren Daniel)