Investec Australia Property Fund pursues primary listing in Sydney
External manager Investec Property plans to raise about R1bn by selling 76.9-million new units in its Australian fund
Investec Property plans to raise about R1bn by selling 76.9-million new units in its Australian fund as part of its plans to seek a primary listing for that fund on the Australian Securities Exchange (ASX). Investec Property, which manages about R35bn in real estate assets, acts as an external manager for the Investec Property Fund and the Investec Australia Property Fund, which listed on the JSE in 2013. The company planned to lodge a “product disclosure statement” regarding the unit offering with the Australian Securities and Investment Commission “shortly”, Investec Australia Property Fund said on Friday. The new units would start trading on the ASX at the end of May. At the same time, the fund’s secondary listing in Bermuda would be terminated, meaning Investec Australia Property Fund would be “dual primary listed” on the JSE and ASX, it said. Units would be offered to retail investors in Australia and New Zealand, and to certain institutions in SA, Australia, New Zealand, Hong ...
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