Charter Hall pulls IPO on expected listing date
Sydney
A projected A$1.12 billion (S$1.19 billion) Australian property trust listing was priced too high to attract big investors, fund managers said on Wednesday, as confidence drains out of a sector that Australia's central bank has warned faces a supply glut.
Parent company Charter Hall Group said it abandoned the initial public offering because of a lack of institutional support. The move comes less than a week after the Reserve Bank of Australia said a booming supply of new apartments could raise…
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