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

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Repo rate cut by 25 basis points

Jan 16, 2020
Governor_Lesetja_Kganyago_SARB1
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Health & Safety key drivers for Concor at Oxford Parks project

Jan 13, 2020
Godfrey Baloyi Bennie De Koker Concor Buildings HSE
Health and safety are key drivers for Concor Buildings at the construction of Oxford…

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

The rising tide of the silver economy

Jan 16, 2020
Chris Cilliers
Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth…

Please publish modules in offcanvas position.