subscribe to our newsletter sign up
Green investments focus for newly listed group
Exclusive
Clayton Utz rejects AMP collusion allegations:

Green investments focus for newly listed group

Urban renewal and regeneration assets have been earmarked by newly listed investment company URB, which has made an IPO of $1.10 per share.

Firms: Ashurst (URB Investment Limited)

Deal: URB Investment Limited (URB) has made an initial public offering of shares and options, after successful listing on the ASX this month.

Value:  $80.1 million approx

Area: Corporate, insurance

Key players: The Ashurst team advising URB was led by partners Anton Harris (pictured) and Rehana Box.

Deal significance: The prospectus of new investment company URB says it “seeks to capture long-term value” through equity asset and direct property asset investments. The company has indicated that its investment portfolio will focus on urban renewal and regeneration.

Ashurst advised URB on its IPO and listing on the ASX.

URB made an initial public offering of 72,853,232 fully paid ordinary shares at an issue price of $1.10 per share and 72,853,232 options to acquire a share, exercisable at $1.10 each, at any time on or before 7 April 2018.

The company was admitted to the official list of the ASX on 11 April, with official quotation of securities starting on 12 April 2017.

Joint lead managers for the transaction included Bell Potter Securities Limited, Commonwealth Securities Limited and Morgans Financial Limited.

Contact Asset Management Pty Limited was the investment manager for the transaction.

Promoted content
Recommended by Spike Native Network