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

 

Listed Property Fund IPO

Listed Property Fund IPO

Augusta Funds Management Limited today announced that it is considering making an offer of up to $60 million new ordinary shares to the public in a property fund, Kermadec Property Fund Limited. It is intended that the proceeds of the offer will be applied to the acquisition of approximately $100 million commercial and industrial property.

Augusta Funds Management Limited expects the offer will open early November. Under the terms of the intended offer, a priority pool of shares will be reserved for allocation by those persons who hold shares in certain properties to be acquired by Kermadec Property Fund Limited at the date of the prospectus. These holders will be invited by letter to register their interest in receiving an allocation of shares in the offer. An indication of interest will carry no obligation or commitment of any kind.

No money is currently being sought and no applications for securities will be accepted or money received unless the subscriber has received an investment statement.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>


MBIE: NZ space sector set to star in Moon mission
The New Zealand space sector is set to star in NASA’s CAPSTONE moon mission – with Rocket Lab launching a satellite to the Moon from New Zealand in June, and the lift-off of a separate NASA-NZ lunar research project... More>>



Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>


Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>

BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>