Vital Healthcare proposes NZ, Australia trust split

Wed, 20 Nov 2024

Vital Healthcare Property Trust has announced a proposal to restructure into separate New Zealand and Australian trusts, with independently traded primary listings on the NZX and ASX.

The proposal, which is still in the consultation phase, aims to address the limitations of Vital's current structure and make it a more attractive investment vehicle.

The manager of Vital, Northwest Healthcare Properties, said the current structure has benefits for New Zealand investors but limits attractiveness to Australian and offshore investors.

The proposed dual listed trust (DLT) would involve the restructuring of Vital's New Zealand and Australian assets into separate legal entities, while maintaining economic exposure to all of Vital's assets.

The consultation process is expected to take place over the remainder of 2024, with a view to putting a proposal to unit holders for a vote in April 2025.

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