Australian Unity Office Property Fund to list on ASX
An overwhelming number of Australian Unity Office Property Fund investors (99 per cent) have voted in favour of the company listing on the Australian Stock Exchange (ASX), according to the organisation.
Australian Unity Office Property Fund was expected to trade on the ASX on 20 June 2016 (from 12 noon) on a conditional and deferred settlement basis, the firm said.
Once listed on the ASX, it would be the first Australian real estate investment trust (A-REIT) listed this calendar year.
Australian Unity Investments chief executive, David Bryant, said the initial public offering (IPO) was well oversubscribed, and that he was very happy with the high level of interest from institutional and retail investors.
"We developed the proposal to list because we believed it was in the best interest of investors. The listing will provide access to additional equity for the sustainable growth of the fund, and liquidity to those investors seeking to withdraw," Bryant said.
All withdrawal requests received during the offer would also be paid in full ($53.29 million), Bryant said.
The portfolio owns eight office assets around Australia valued at $391 million (as at 30 April 2016).
Recommended for you
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
Franklin Templeton has reduced fees for two of its Brandywine fixed income funds and enacted a name change for its Global Income Optimiser fund.
