independent living reit plc said monday that it intends to launch an initial public offering on the london stock exchange targeting gross issue proceeds of 150 million pounds 1738 million the company said it expects shares to be admitted to trading around oct 4 shares will trade under the ticker symbol live the company aims to become a supported housingfocused realestate investment trust once it has acquired an initial portfolio of assets independent living didnt disclose how many shares it expects to issue or a price however the company said it will target a dividend of five pence a share for the first and second years after admission which it then plans to increase progressively thereafter it said it is targeting an annual total return of 710 over the medium term rbc capital markets is acting as sole sponsor broker and bookrunner to the company for the ipo independent living said it has an extensive pipeline of potential acquisition opportunities with an ipo pipeline of around gbp500 million of assets