Caltex Australia Intends to Unveil Property IPO 

  • Nov 25, 2019 AEDT
  • Team Kalkine

Caltex Australia Limited (ASX: CTX) intends to undertake an initial public offering of up to 49% interest in 250 core Convenience Retail freehold sites.

  • The company proposes to retain a majority interest in the freehold site, which would be placed into a property trust, and enter into a long-term lease agreement over each site;
  • If implemented, CTX expects the IPO to realise significant value for its shareholders and allow the company to maintain operational control of the Convenience Retail network.

At 1:31 PM AEST, CTX quoted $29.700, up by 6.6%.

 

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