Woolworths Limited's property spin-off SCA Property Group lists at a small premium
Woolworths Limited's property spin-off SCA Property Group listed on the ASX today.
Closing the first day's trade at $1.44, it was at a small premium to its placement price.
There was a placement to institutional investors at $1.40 a share last week.
It opened trading at A$1.405. It holds 69 shopping centres in Australia and New Zealand.
Shareholders will receive one stapled unit in the property group for every five shares they hold in Australia’s largest retailer as of November 30.
The Mark at Sydney's Central Park
Much has been spoken about the global property market and that our market will ultimately follow a similar fate and I am always at pains to point out not all property is created equal.
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