INDEPENDENT NEWS

Listed Property Fund IPO

Published: Wed 11 Oct 2006 01:03 PM
Listed Property Fund IPO
Augusta Funds Management Limited today announced that it is considering making an offer of up to $60 million new ordinary shares to the public in a property fund, Kermadec Property Fund Limited. It is intended that the proceeds of the offer will be applied to the acquisition of approximately $100 million commercial and industrial property.
Augusta Funds Management Limited expects the offer will open early November. Under the terms of the intended offer, a priority pool of shares will be reserved for allocation by those persons who hold shares in certain properties to be acquired by Kermadec Property Fund Limited at the date of the prospectus. These holders will be invited by letter to register their interest in receiving an allocation of shares in the offer. An indication of interest will carry no obligation or commitment of any kind.
No money is currently being sought and no applications for securities will be accepted or money received unless the subscriber has received an investment statement.
ENDS

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