Long Wail as IPO Gets Pulled. Charter Hall Fair Value Falls to AUD 4.80
Due to inadequate institutional demand for the AUD 350 million institutional component of the initial public offering, or IPO, of the Long WALE REIT, or LWR, Charter Hall won't be proceeding with the IPO as scheduled. Charter Hall advised it had received significant retail demand, but the institutional offer “did not attract the sufficient quality of support that the Group deemed appropriate to create an orderly market.†The offer price was AUD 4.00, a 3.1% premium to LWR’s expected net tangible...Charter Hall Group is engaged in the investment in property funds, and property funds management. Co. has the following two reportable segments: Property Investments, which comprises investments in property funds; as well as Property Direct Investments, which comprises direct interests in investment properties; and Property Funds Management, which comprises funds management services, property management services and other property services.
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