Australia's GPT rises on retail asset partnership, shopping centre stake buy

GPT

21/01/2025 23:58

** Shares of GPT Group  GPT.AX  up 0.7% at A$4.61
    ** Retail assets operator says it has established a
partnership with the GPT Wholesale Shopping Centre Fund (GWSCF)
for its retail asset Rouse Hill Town Centre
    ** GPT says it will also acquire an additional 8.33% stake
in Highpoint Shopping Centre from GWSCF
    ** "In our view, 2025 will be a foundational year for GPT in
funds management and the announcement is another step towards
implementation" - brokerage Citi
    ** Stock rises as much as 0.9% earlier in the day
    ** Stock up 5.5% this year, including the day's move

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.nair@thomsonreuters.com;))