AVJennings Still in Active Talks With Takeover Suitors Ho Bee Land, AVID Property as Exclusivity Period Ends; Shares Down 4%

MT Newswires Live

02-24

AVJennings (ASX:AVJ) said it remains in "active discussions" with takeover suitors Ho Bee Land and Proprium Capital Partners and AVID Property Group, according to a Monday filing with the Australian bourse.

While the exclusivity period for both proposals has lapsed, the bidders continue their due diligence to pursue a binding proposal, per the filing.

Singapore-listed Ho Bee Land is acquiring AVJennings for AU$0.70 per share versus Proprium Capital and AVID Property's offer of AU$0.67 per share.

The residential property developer's shares were down nearly 4% in recent Monday trade.

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