Australia's Link slips as it drops KKR's bid, seeks to list PEXA

PExA AB

31/05/2021 01:59

** Shareholder registry firm Link Administration Holdings
Ltd  LNK.AX  falls as much as 4% to A$5.230
    ** Stock is the second-biggest pct loser on the benchmark
index  .AXJO 
    ** Says it will take online real estate company PEXA public
with an enterprise value of A$3.3 billion ($2.54 billion),
effectively rejecting KKR & Co's  KKR.N  takeover bid for the
unit  urn:newsml:reuters.com:*:nL2N2NH0K1
    ** Sources told Reuters on Saturday that PEXA had raised
$907 million in an underwritten initial public offering (IPO) at
A$17.13 per share, making it Australia's largest this year
 urn:newsml:reuters.com:*:nL2N2NG045
   ** Morgan Stanley Infrastructure Partners had sold its 40%
holding in PEXA, sources said    
    ** LNK says will increase stake in PEXA to 47% from 44.2%
and expect it to start trading by June-end
    ** Stock has fallen 1.8% this year, as of last close

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))