Stride scraps Fabric IPO

With the IPO cancelled, Strides acquisition of Carlton Gore road has also been thrown into question. (Photo: supplied)

Tue, 21 Sep 2021

Stride Property has abruptly withdrawn its initial public offer for an office spinoff called Fabric, citing “recent market conditions”.The property management firm had released the product disclosure statement for the $250 million IPO to the market last week.Stride had planned to carve out 10 of its office buildings into a new standalone entity that would list on the NZX in October, raising at least $250 million to fund the acquisition of 110 Carlton Gore Rd.Goldman Sachs NZ was set to run a bookbuild process to finalise the listing...

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