Business
HomeCo Daily Needs REIT (ASX:HDN) on debut today as largest IPO in 2020
The HomeCo Daily Needs REIT (ASX: HDN) today debuted on the ASX at a 1.5% premium to its initial public offering (IPO) price. The real estate investment trust (REIT) raised $300 million at $1.33 a share. Soon after the float, the HomeCo share price moved to $1.35 but has retreated back to $1.33 at the time of writing.
What assets are included in the HomeCo REIT fund?
HomeCo has been billed as the largest IPO of the year for the ASX. As part of its effort to bring the fund to IPO, HomeCo had been actively acquiring retail shopping mall properties in New South Wales, Victoria, and Queensland.
Since July, it has purchased three shopping centres from Woolworths Group Ltd (ASX: WOW), along with assets in Western Sydney worth $220…
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