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An update from Hotel Property Investments Ltd. ( (AU:HPI) ) is now available.
Charter Hall Wholesale Management Limited, acting as trustee for the CH Investment Trust and the CH Investment Co Trust, has announced a compulsory acquisition of remaining securities in Hotel Property Investments (HPI) following an off-market takeover. The bidder, having acquired over 90% of HPI’s stapled securities, will exercise its right under the Corporations Act 2001 to acquire the remaining securities at a consideration of $3.752 per security. HPI securityholders have the option to accept the offer until March 14, 2025, to receive their consideration promptly or wait for the compulsory acquisition process. Trading in HPI securities on the ASX will likely be suspended shortly after, and the company will be removed from the official list.
More about Hotel Property Investments Ltd.
Average Trading Volume: 598,375
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$736.1M
See more insights into HPI stock on TipRanks’ Stock Analysis page.
