Property Development

Primewest to Make $100m ASX Debut

Written by The ReReport
As seen in the Source link, written by theurbandeveloper.com on 2019-11-05 13:36:39

Property fund manager Primewest will list on the ASX this week after hitting its $100 million mark.

The pending listing values Perth-based Primewest, founded by John Bond, David Schwartz and Jim Litis, at a market capitalisation of $349 million.

The company opened its IPO to existing Primewest fund investors and institutions, with the $100 million in IPO shares representing a 29 per cent stake in the company.

Primewest executive chairman John Bond, son of the late Alan Bond, said it was encouraging for the company to list oversubscribed in the current market.

“Going public after 25 years will allow us to take this business to the next level and explore even greater opportunities in Australia and overseas,” Bond said.