Jurisdiction - Australia
Herbert Smith Freehills Advises Joint Lead Managers On Centuria Property Funds Limited’s IPO.

12 November, 2014


Herbert Smith Freehills is advising UBS AG, Australia Branch and CIMB Capital Markets (Australia) Ltd in relation to their role as bookrunners and joint lead managers of Centuria Property Funds Limited’s (as Responsible Entity of Centuria Metropolitan REIT No.1 and Centuria Metropolitan REIT No.2 (together, the Stapled Funds)) initial public offering of stapled securities in the Stapled Funds (IPO) and listing on the Australian Securities Exchange (ASX). The offer consists of an institutional offer, broker firm offer and a priority offer (Offer) and is expected to raise approximately AUD 114.3m.


Centuria Property Funds Limited (as Responsible Entity of the Stapled Funds) lodged a Product Disclosure Statement for the IPO with the Australian Securities and Investment Commission on Tuesday 11 November 2014 with an indicative market capitalisation for the Stapled Funds of AUD 143m (based on an offer price of AUD 2.00 per stapled security). The Stapled Funds are expected to list on the ASX on 10 December 2014.


The Herbert Smith Freehills capital markets team was led by partner Philippa Stone.


Ms Stone said: “The Centuria IPO is another example of the strength of the property and real estate sectors and of the continuing support for the Australian IPO market in 2014. Herbert Smith Freehills is delighted to have acted for UBS and CIMB on this transaction.”


Centuria Property Funds Limited was advised by Henry Davis York.


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