Investec Australia Property Fund successfully lists on the ASX

Posted On Wednesday, 29 May 2019 14:37 Published by
Rate this item
(0 votes)

Investec Australia Property Fund has listed on the Australian Securities Exchange (ASX) following its recent successful capital raising.

 -GRAEME-KATZ-

The Fund, which has grown its portfolio 8.2 times since listing on the JSE in October 2013, raised a total of AUD 161 million through the issue of 76.9 million new units and the sale of 45 million units owned by Investec Property Fund.

Closing the day 9% higher at AUD 1.44 per unit, IAPF’s trading performance reflects the market’s appetite for high quality office and industrial assets managed by an experienced team with a track record of delivering on its strategy. It also represents a significant premium to where the units were trading when the proposed ASX listing was formally announced in August 2018.

Commenting on the successful ASX listing, IAPF CEO Graeme Katz said: “The ASX listing marks the next step in a journey that began five and a half years ago when IAPF listed on the JSE.

IAPF’s strategy of value investing and active asset management has clearly resonated with institutional and retail investors that participated in the offer, which was significantly oversubscribed and priced above the minimum subscription price at AUD 1.32. Having access to two capital markets will set the Fund up for future growth so that it can continue to deliver on its strategy”.

Last modified on Wednesday, 29 May 2019 14:44
" "

Most Popular

Vukile transforms Pinetown’s first shopping centre, Pine Crest, into the first choice for shopping

Jul 25, 2019
 ITUMELNG MOTHIBELI
The renovated new Pine Crest launched today after an innovative R200m, 14-month…

Successful construction of CrestAquarium by Concor Buildings

Jul 25, 2019
 CRESTAQUARIUM 1
The indoor CrestAquarium at Cresta Shopping Centre allows shoppers to view more than 30…

The next wave of property development in Africa is coming

Jul 31, 2019
 NIYI ADELEYE
The past decade has seen South African property developers and investors forge their way…

Sandton Central’s private sector green building leadership contributes to better public spaces

Jul 25, 2019
 ELAINE JACK
From 2010, when Nedbank completed its headquarters on the corner of Rivonia Road and…

Centurion Mall, Redefine’s largest asset after comprehensive refurbishment

Jul 25, 2019
CENTURION MALL 1
The JSE-listed diversified real estate investment trust Redefine Properties today…

Please publish modules in offcanvas position.