Industrial REIT to raise $179m

The IPO of Australian Industrial REIT is set to price on Wednesday after finding robust demand from institutions.

The underwriting of Allan Fife’s $179 million initial public offering of the Australian Industrial REIT has been brought forward after robust demand by a number of domestic institutional investors made pricing on Wednesday all but certain.

The IPO of eight warehouses, seven in Sydney and one in Melbourne, is priced at a 3.5 per cent premium to net asset value. It is scheduled to yield 8.25 per cent.

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