NZ's Vital Healthcare rises on forecasting gains from property revaluation

Vital Healthcare Property Trust

04/08/2021 02:31

** Shares of Vital Healthcare Property  VHP.AX  rise as much
as 1.6% to NZ$3.17, their biggest intraday pct gain since July
19
    ** The healthcare investment fund sees NZ$175 mln ($123.20
mln) of property revaluation gains over the second half of FY21
and amounts to a full-year gain of NZ$235 mln
    ** Increased transactional evidence in healthcare property,
particularly in Australia, has provided support for the
indicative valuation increases, co says
    ** Says the revaluation gain will increase Vital's property
portfolio above NZ$2.63 bln
    ** Stock down 4.7% this year, as of last close


($1 = 1.4205 New Zealand dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))