Janus Living poised to open above offer price in NYSE debut

Senior housing real estate investment trust Janus Living JAN.N on track to open above offer price in NYSE debut

Stock indicated to open between $22 and $24 apiece, vs. offer price of $20

JAN sold 42 million shares in an upsized IPO at the top end of the marketed range of $18 and $20 apiece to raise $840 million

Analysts expect JAN to benefit from being a REIT, which tend to have a dedicated pool of investors less concerned with day-to-day fluctuations of global markets

"They also tend to be yield investors, buying the asset for an attractive dividend rather than hoping for a huge aftermarket bounce," said Samuel Kerr, global head of equity capital markets at Mergermarket

"This may help it (Janus) ride any market volatility, although there is never any guarantee of success when markets are as volatile as they are now" - Kerr

BofA Securities and J.P. Morgan acted as lead book-running managers for offering