Heathley Healthcare REIT Initial Public Offering Put On Hold

  • Nov 21, 2018 AEDT
  • Team Kalkine
Heathley Healthcare REIT Initial Public Offering Put On Hold

As per the recent update, Hospital's landlord Heathley Healthcare REIT has postponed its attempted listing on the Australian Securities Exchange.

It came into the picture of the company that the unit holders were off the decision on Wednesday. The brokers of the company were scheduled on that same day to conduct the initial public offering through the book building process.

After seeing the market condition, the manager of Heathley Asset Management told its investors that they are going to defer the planned IPO of Heathley.

After being approved by the unitholders, the management team of the Heathley conducted a road show which engaged both institutional investors as well as retail private client network.

Heathley, after the road show, is delighted to receive support from both the institutional investors and retail private client networks. On the other hand, seeing the market volatility, the company considers that deferring the IPO is in good faith for both the existing fund investors as well as the upcoming new investors.

Peter Davidson who is the head of Pendal Group, also strongly believes that deferring the IPO is a wise decision seeing the condition of the market.

There are other companies as well who is in a line of ASX debut. These companies have also deferred or canceled the presented floats in the second half of this year.

Through IPO, valuing the company at $373 million based on the market capitalization, Heathley had been looking forward to raising $226.4 million in a deal. Dexus which is an ASX listed company was set to take 10% stake in Heathley after being listed on ASX. This was an offer made by Dexus to the company. The IPO will be led by JPMorgan and UBS.

As per the terms and conditions placed in front of the potential investors, around 42 properties were proposed to list along with the company. Each property valued approximately $528.4. These properties were day hospitals, medical centers, and aged care facilities.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK