Lockdown finishes off Fabric IPO

Fabric is buying a $200m property in Newmarket, Auckland which will be completed in February 2023. (Photo: Supplied)

Tue, 21 Sep 2021

Five weeks in lockdown was enough to scare Stride Property off its $250 million office property listing plan, withdrawing the offer just hours before the bookbuild was set to begin.Chair Tim Storey told BusinessDesk overall market sentiment, both here and overseas, wasn’t conducive to an IPO.Stride had planned to carve out 10 of its office buildings into a new standalone entity that was to list on the NZX next month, raising at least $250 million to fund the acquisition of 110 Carlton Gore Rd.Goldman Sachs NZ was set to run a bookbuild pr...

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