Icade Sante eyes 3 bln euros investment by end 2025 post IPO

PARIS, Sept 10 (Reuters) - Icade Sante, the healthcare property investment unit of France’s Icade, said on Friday it plans to invest 3 billion euros by 2025 helped by proceeds from its initial public offering set for the end of 2021.

Icade Sante made the announcement as stock market watchdog AMF approved its registration document, the first step towards the planned IPO.

“With the IPO, Icade Sante will finance its investment plan of 3 billion euros by the end of 2025, with a strong balance sheet, and will accelerate its pan-European expansion,” the statement said.

Icade, which owns 58.3% of Icade Sante, will remain the controlling shareholder after the IPO..

Reporting by Dominique Vidalon; editing by Jason Neely