URB Investments Ltd

Take5 with OnMarket: Chairman, Warwick Negus discusses URB Investments Ltd and the IPO.

Fixed Priced IPOType of Offer
03 Mar 17Offer Open
30 Mar 17Pay By
$1.10Price
Up to 300 millionSize of Offer
$2,200Minimum Bid
Bell Potter, Morgans, CommSecLead Manager
71
2237

Overview

URB Investments Limited (ASX: URB) will be a Listed Investment Company (LIC) looking to benefit from urban renewal and regeneration by investing in assets that have exposure to population growth and density, major infrastructure investment, housing growth, re-zoning and use of land changes and tourism growth. Washington H Soul Pattinson (ASX: SOL), one of Australia’s oldest and most respected investment houses in Australia has committed to subscribe for a minimum of 10% of the Securities under this offer.

URB Investments are raising $75 million to $300 million. They are also offering 1 Option for every share subscribed. Each Option is exercisable at $1.10 at any time before 7 April 2018. URB aims to pay out between 50% and 70% of Net Operating Profits as ordinary fully franked dividends.

URB considers that urban renewal and regeneration presents an immediate and attractive investment opportunity in Australia and an investment in URB will suit investors seeking exposure to alternative asset classes. According to URBIS Pty Ltd Research, urban renewal is the significant transformation of existing urban areas to accommodate much denser, generally mixed use environments. Australian cities are now experiencing rapid transformation through the regeneration of areas such as Pyrmont in Sydney, Subiaco in Perth and Docklands in Melbourne.

URB’s investment portfolio will be managed by Contact Asset Management Pty Ltd (Contact), who have a proven track record and an average of 22 years of experience. Contact is currently the manager of BKI Investment (BKI), a LIC which has grown significantly since listing at $173 million in 2004 to approximately $1 billion as at 31 January 2017. BKI returned a 13 year Total Shareholder Return of 11.3% per annum (inclusive of Franking Credits).

As set out in Section 5 of the prospectus, URB Investments is subject to a range of risks, including the lack of operating or performance history of the company, investment risk due to fall in value of property over the short or long term, potential conflicts of interest and possible environmental risks.

 

Section 734(6) disclosure: The issuer of the securities is URB Investments Limited ACN 615 320 262. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).‚Äč

The company reserves the right to close the offer early.

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