Mailbox REIT is investigating alternative platforms for listing and trading its shares to improve liquidity for investors in light of yesterday’s news that the International Property Securities Exchange (IPSX) has commenced the process of winding down its operations.
In a statement, IPSX said its secondary market operations would continue through the wind down period of 90 days and the buying and selling of shares in Mailbox REIT would continue as normal.
The board of Mailbox REIT – in consultation with its asset and investment manager and its lead advisor – said it was in discussions with an alternative platform and expected to take a final decision shortly.
Stephen Barter, chairman of Mailbox REIT, said: “While we are sad to learn that IPSX is to wind down, we have been preparing for the possibility of such an outcome. We are finalising arrangements for listing and trading on an alternative platform, where access to trading and liquidity will be improved, while protecting the interests of all our shareholders. In the meantime we note that IPSX will remain open, while it winds down its operations.”
