Primewest (ASX:PWG) are preparing for an IPO

Company News

by Rachael Jones

Property investors Primewest (ASX:PWG) are preparing for an Initial Public Offering (IPO) and ASX listing of a new real estate investment trust, the Primewest Commercial REIT.

It is hoped the Fund will initially own a portfolio of four office buildings, independently valued at approximately $285 million.

The initial proposed portfolio is strategically weighted towards the recovering Perth office market.

At IPO, the Fund will have an indicative market capitalisation of approximately $288 million.

Shares in Primewest (ASX:PWG) closed -0.8 per cent lower at $1.245 yesterday.