Investors overwhelmingly vote ‘yes’ to listing the Australian Unity Office Fund

David Bryant image

David Bryant

Investors in the Australian Unity Office Property Fund voted overwhelmingly in favour of the proposal to list the Fund on the Australian Securities Exchange (ASX) at a meeting in Melbourne last Friday.

Of those who voted, more than 99 per cent voted in favour of all the resolutions to give effect to the listing.

The Australian Unity Office Fund will trade on the ASX on a conditional and deferred settlement basis from 12 noon on 20 June 2016. It will be the first A-REIT to list on the ASX this calendar year. The Fund will trade under the ASX code ‘AOF’.

David Bryant, chief executive officer at Australian Unity Investments, was pleased with the support from investors and their endorsement of the proposal to list the Fund.

“We have been very happy with the high level of interest from both institutional and retail investors to date. The IPO was well oversubscribed.

“We developed the proposal to list because we believed it was in the best interests of investors. The listing will provide access to additional equity for the sustainable growth of the Fund and liquidity to those investors seeking to withdraw.

“The total value of withdrawal requests received during the recent offer was $53.29 million. Pleasingly, all unitholders requesting a withdrawal will be paid in full. ” Mr Bryant said.

The Fund was established in 2005 and owns a portfolio of eight office assets in New South Wales, Victoria, Australian Capital Territory, South Australia and Queensland, with assets valued at $391 million, at 30 April 2016.

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