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Convenience Retail REIT starts trading on Australian bourse

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Convenience Retail REIT starts trading on Australian bourse

Convenience Retail REIT commenced trading on the Australian stock exchange Aug. 3 on a normal settlement basis.

The trust debuted on the exchange July 27 on a conditional and deferred settlement basis after a A$162.2 million IPO.

Plans for the trust's listing first came out in August 2016, with its parent, APN Property Group, filing a product disclosure statement for the company in June.

The trust has 67 service stations and convenience retail properties amounting to A$323 million in its portfolio.

As of Aug. 2, US$1 was equivalent to A$1.25.