Elanor to launch commercial property IPO

Elanor to launch commercial property IPO

Elanor Investors Group (ASX: ENN) has announced preparations are underway for an initial public offering (IPO) of its commercial property fund.

The Sydney-based company says after the IPO the Elanor Commercial Property Fund (ECPF) will own six investment-grade commercial properties valued at approximately $306 million in Queensland, Western Australia and South Australia.

The fund proposes acquiring more investment grade assets over time, but to start with the IPO will help fund the purchase of 200 Adelaide Street, Brisbane and the remaining 49% interest not already held in Workzone at 202 Pier Street, Perth.

Existing investors in ECPF will be given the opportunity to participate in the IPO.

Elanor Funds Management Limited (EFML) is the responsible entity of the fund and is targeting the lodgement of a Product Disclosure Statement (PDS) with the Australian Securities and Investments Commission (ASIC) for an offer of securities in the fund in early November.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Get our daily business news

Sign up to our free email news updates.

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

Genesis Capital lifts Pacific Smiles takeover bid to $279 million

Genesis Capital lifts Pacific Smiles takeover bid to $279 million

Pacific Smiles (ASX: PSQ) suitor Genesis Capital has brus...

Marmalade raises $16m as invoice payment startup aims to process $1b in 2024

Marmalade raises $16m as invoice payment startup aims to process $1b in 2024

Melbourne-based invoice payment platform Marmalade has raised $16 m...

Boral rejects Seven Group bid after independent expert says it falls $1 billion short

Boral rejects Seven Group bid after independent expert says it falls $1 billion short

Buildings materials giant Boral (ASX: BLD) has formally rejected a ...

Study links microplastics with human health problems – but there’s still a lot we don’t know

Study links microplastics with human health problems – but there’s still a lot we don’t know

A recent study published in the prestigious New England Journal of ...