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Stockland (ASX:SGP) is funding its share buy-back with the sale of its Melbourne office tower Riverside Plaza.
The tower has been sold to Dexus Wholesale Property Fund for $201.5 million.
Stockland bought the tower in 2000 and has refurbished 60 per cent of its floors over the past four years.
The property group says allowances for outstanding incentives totalling $7.9 million will be paid to Dexus and the net proceeds of $193.6 million represent a premium of $11.6 million or 6.4 per cent to the June 30 book value of $182 million.
Stockland (ASX:SGP) reported a full year net profit of $754.6 million this year.
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Last
$5.10 |
Change
-0.055(1.07%) |
Mkt cap ! $12.74B | |||
| Open | High | Low | Value | Volume |
| $5.17 | $5.18 | $5.08 | $7.758M | 1.515M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 40 | 31252 | $5.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.10 | 16179 | 19 |
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| Last trade - 14.00pm 20/11/2024 (20 minute delay) ? |
| SGP (ASX) Chart |
