UPDATE: Stride plans to demerge and list property subsidiary in strategy to keep tax status

Fri, 10 Jun 2016

(Adds explanation and clarification of restructuring plans from CEO) By Sophie Boot June 10 (BusinessDesk) - Stride Property will list its wholly-owned subsidiary Investore Property after an initial public offering as part of its strategy to retain its portfolio investment entity (PIE) tax status. Stride will distribute Investore shares to its own shareholders at a one-for-four ratio as part of the subsidiary demerging from Stride, at the same time as Investore lists on the NZX main board, it said in a statement. Stride will retain a 1...

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