The Las Vegas Review-Journal and Reuters are reporting that real estate investment trust MGM Growth Properties LLC is eying an IPO.
According to Monday’s report, a marketing push for a U.S. initial public offering is inbound for investors.
The objective, we’re told, is to target as much as $1.2 billion “in the largest IPO so far this year,” sources in-the-know say.
A successful offering by MGM Growth would show that the stock market is gradually opening up for big IPOs, which have been sitting on the sidelines for months as volatility has rocked the market. It could raise almost double the $626 million that has been amassed in U.S. IPOs so far this year by 35 other companies, according to Thomson Reuters Data.
For now, no official on-the-record comments have been made by the key parties involved. But efforts to push the IPO ahead are moving forward.
“Shares of MGM Growth Properties will list on the New York Stock Exchange under the ticker MGP,” Monday’s report notes.