iProperty up for auction
Online real estate business REA Group (ASX: REA) launched a $4 per share takeover bid for south-east Asia focused rival iProperty Group (ASX: IPP) this week. REA Group said it forecast strong population and gross domestic product growth in south-east Asia, and expected the real estate market will continue to grow as buyers and sellers move to online advertising as part of a general trend towards joining the digital economy. REA, which also has online assets in the US and Europe, said it expects the acquisition to be completed in the first quarter of 2016. REA shares closed up 2% for the week and iProperty shares closed up 10%. We own IPP in the investment portfolio.
Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...