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Australia's Propertylink hits all time high after ESR buys stake
October 4, 2017 / 2:01 AM / in 2 months

Australia's Propertylink hits all time high after ESR buys stake

Oct 4 (Reuters) - Australia’s Propertylink Group’s shares vaulted to an all-time high after the real estate investment trust said on Wednesday that ESR Pte Ltd bought an over 18 percent stake in the company.

ESR Pte Ltd, a unit of Asian logistics firm ESR Cayman Ltd, bought 60.2 million shares through off-market purchases on Oct 3.

The trust intends to keep its options open in relation to investment in Propertylink, including the possibility of increasing its interest in the company, ESR said in a statement. (Reporting by Hanna Paul in Bengaluru)

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