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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