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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.