IMC Plans IPO, Seeks REIT Status

According to a registration statement filed with the United States Securities and Exchange Commission, International Market Centers Inc., is preparing to make an initial public offering of stock. The filing stated that the company intends to qualify to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes so shares of common stock emerging from the IPO will be subject to limitations on ownership and transfer that are intended to assist IMC in maintaining qualification as a REIT.

After the completion of the offering, the company said, International Market Centers, LP, a limited partnership controlled by affiliates of Bain Capital, LLC and Oaktree Capital Management, L.P., will continue to own a majority of the common stock voting power. In that case, IMC will become a “controlled company” by New York Stock Exchange Standards, it noted.

In a preliminary prospectus accompanying the filing, IMC pointed out that, for the 12 months ended September 30, it generated revenue of $159 million and adjusted EBITDA of $80 million.