Report
Gareth James
EUR 100.00 For Business Accounts Only

Corporate Action: We Recommend Arena Securityholders Subscribe to the SPP

As foreshadowed in our note of May 22, 2019, we recommend Arena REIT securityholders subscribe for new units under the security purchase plan, or SPP. The SPP subscription price of AUD 2.67 is close to our fair value of AUD 2.63, which implies the offer price is fair. The appeal of the offer is enhanced by the 7% discount to the current market price of AUD 2.87. The offer is open to security holders who were on the security holder register at 7:00pm on May 20, 2019 and the offer closes on June 2...
Underlying
Arena REIT

Arena REIT No. 1 (ARF1) is a Trust. The objective of the Trust is to generate and predictable income distributors to investors with earnings growth prospects over the medium to long term. The Company is a part of the Arena REIT Stapled Group.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Gareth James

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