Sarah Thompson, Anthony Macdonald, Joyce Moullakis
Petrol station property owner Viva Energy REIT has been assigned an equity value of up to $1.7 billion. by analysts at Deutsche Bank.
In pre IPO marketing research, Deutsche analysts put a $1.5 billion to $1.7 billion valuation on the business, reflecting a yield of 5.8 – 5.2 per cent.
The reports were sent to fund managers on Monday morning,
Viva Energy REIT own an initial portfolio of 425 freehold service station sites, which are leased in full back to Viva Energy.
Deutsche and Bank of America Merrill Lynch are handling the float.
The investor education roadshow kicks off in Sydney and Melbourne this week before heading to cities including Hong Kong, Auckland, Singapore, London, New York and Canada.
The float’s timetable has been adhered to despite wild market gyrations following a successful Brexit vote last week.
Extracted in full from the Australian Financial Review.