Astro Japan Property Group paid the initial planned distribution of A$7.18 per stapled security and secured approval to be delisted from the official list of The Australian Securities Exchange Ltd., at the close of market Oct. 10.
The move follows the completion of the company's ¥37.91 billion portfolio divestment to funds managed by Blackstone Real Estate. The removal of Astro Japan from the bourse's official list is poised to set the winding up process of the two trusts making up the stapled entity in motion.
With the liquidation of Astro Japan Property Group Ltd. pending approval, Astro Japan Property Trust's wind-up aims to pay out a per-security distribution of between 11 Australian cents and 12 cents from any surplus asset. Its completion is slated for late November or early December.
The liquidation of the trust's responsible entity, Astro Property Management Ltd., is also lined up, with a per-security distribution between 14 cents and 17 cents expected from the process, the company indicated earlier.
As of Oct. 9, US$1 was equivalent to ¥112.68.