Investec Property Fund ready to list on ASX
Investec Australia Property Fund (IAPF) has announced it has closed its offer earlier than expected due to strong investor demand and is expected to list on the Australian Securities Exchange (ASX) on Tuesday, 28 May.
The fund said it successfully raised a total of AUD 102 million through the proposed issue of 76.9 million new units (offer), which was significantly oversubscribed. To meet this demand, a further 45 million units will be sold to certain institutional investors who participated in the offer.
The early closure of the offer followed a local roadshow led by joint lead managers, J.P. Morgan and Macquarie Capital, which attracted interest from property specialist funds and general equities funds.
IAPF has a mandate to invest in office, industrial and retail properties both in Australia and New Zealand and has currently a portfolio of 28 properties.
“We are particularly pleased to see such strong appetite from Australian investors to list the fund on the ASX,” the fund’s chief executive, Graeme Katz, said.
“Demand was strong, given the current and ongoing outlook for industrial and office properties in Australia and New Zealand.
“The fund’s primary listing on the ASX, in addition to its current primary listing on the JSE, will set it up for the future and will stand to benefit our unitholders, existing and new.”
AUTHOR
Oksana Patron
Recommended for you
Schroders has appointed a new chief executive as Simon Doyle steps down from the asset manager after 22 years.
Distribution of private credit funds through advised channels to retail investors will be an ASIC priority for 2026 as it releases the results of its thematic fund surveillance and guidance for research houses.
State Street Investment Management has taken a minority stake in private market secondaries manager Coller Capital with the pair set to collaborate on broaden each firm’s reach and drive innovation.
BlackRock Australia plans to launch a Bitcoin ETF later this month, wrapping the firm’s US-listed version which is US$85 billion in size.
