04 Dec 2013

Clayton Utz acts for Joint Lead Managers on A$225 million Industria REIT IPO

Melbourne, 4 December 2013: Clayton Utz has advised Macquarie Capital (Australia) Limited, UBS AG, Australia Branch, ANZ Securities Limited and Morgans Financial Limited, as joint lead managers on the A$225 million Initial Public Offering (IPO) of listed Australian real estate investment trust, Industria REIT. The new REIT debuted on the Australian Securities Exchange yesterday.

Clayton Utz Corporate partner Brendan Groves and senior associate Elissa Tobin led the Firm's transaction team. Brendan and Elissa also advised Macquarie Capital (Australia) Limited on the A$16.1 million equity raising by Asia-Pacific real estate fund manager, APN Property Group Limited, to part fund its investment in Industria REIT. The raising comprised an A$8 million Placement to institutional investors, which completed on 28 October, and an $8.1 million unconditional 1 for 5 pro-rata non-renounceable Entitlement Offer, which completed on 29 November.

As a listed A-REIT, Industria REIT will own interests in a $370 million plus portfolio of industry, technology park and business park assets across four Australian capital cities: Sydney, Melbourne, Brisbane and Adelaide.

The successful completion of the IPO marks a recent resurgence for IPOs in Australia, with a strong pipeline of companies seeking to list in Q4 2013 and Q1 2014.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.