Fund manager Elanor Investor Group has proposed a dramatic solution for its persistently underperforming ASX-listed retail property fund, with a plan to delist and privatise the $130 million vehicle, handing some capital back to investors.
The Elanor Retail Property Fund has traded below its offer price of $1.35 since listing in 2016 and remains at a substantial discount to its net tangible assets, a problem common to other stocks in the listed real estate investment trust sector.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
