A new listed property security debuts on the Australian Stock Exchange this morning, with Charter Hall Group taking its property trust and attached management company to the public.
Charter Hall Group, assigned the stock code CHCCA, will be capitalised at $270 million with all but $14 million of that tied up in the six properties of the Charter Hall Property Trust, diversified across the bulky goods retail, office and industrial sectors and concentrated in Sydney and Melbourne.
The group also comprises Charter Hall Limited, a company undertaking property funds management, development management, property investment banking and property management.
Retail investors were strongly represented in the $188 million of new equity raised for the company, with the retail offer closing oversubscribed.
