Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Property Trust To Relinquish ASX Listing

Kiwi Income Property Trust To Relinquish ASX Listing

Auckland (September 05, 2003) – Kiwi Income Property Trust will relinquish the listing of its units and converting notes on the Australian Stock Exchange (ASX) from Friday, 12 September 2003. An application for voluntary delisting has been made to the ASX. In the interim, the trading of its units and converting notes on the ASX will be suspended at the end of today. Trading in its units and converting notes on the New Zealand Exchange (NZX) remains unaffected.

Kiwi Income Property Trust chief executive Angus McNaughton said that, given the lack of trading of Kiwi Income on the ASX, there is obviously a preference to trade the Trust’s units on the NZX.

“It doesn’t make sense for our unit holders to incur the dual costs of a listing in both markets when investors are content to simply trade on the NZX,” Mr McNaughton said.

Kiwi Income Property Trust continues to be one of the most actively traded issues on the NZX, and ranks 13th by market capitalisation on the NZSX 50.

“There is strong demand for KIPT on the NZX from investors all around the world,” Mr McNaughton said.

About Kiwi Income Property Trust

Kiwi Income Property Trust’s aim is to maximise returns for its unit holders through the careful acquisition and professional management of its property portfolio. All net income (after tax) is distributed to unit holders in each financial year.

The Trust is listed on the New Zealand Stock Exchange and is the market’s 12th largest company by market capitalisation.

The Trust reported a 3.2% increase in net income after tax to NZ$44.75 million for the year to 31 March 2003.

The Trust’s retail assets comprise:

Northlands Shopping Centre Christchurch Centre Place Shopping Centre Hamilton Downtown Plaza Hamilton North City Shopping Centre Porirua The Plaza Shopping Centre Palmerston North

The Trust’s

office assets are located in key CBD locations and comprise:

Royal & SunAlliance Centre Auckland
National Bank Centre Auckland
HP House Auckland
Vodafone House Auckland
AUT Faculty of Arts Building Auckland
Majestic Centre Wellington
BP House Wellington
PricewaterhouseCoopers Centre Christchurch

Kiwi Income Property Trust’s website address is

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>