AVJennings Announces Acquisition Proposal by Proprium Capital and AVID

Avjennings Limited ( (AU:AVJ) ) has issued an update.

AVJennings Limited has announced a proposed scheme of arrangement where PM Nominees C Pty Ltd, an investment vehicle of Proprium Capital Partners and AVID Property Group, plans to acquire all shares in AVJennings. Shareholders will vote on this proposal at a Scheme Meeting, with the acquisition offering 65.5 cents per share. The Independent Expert’s Report by Kroll Australia deems the scheme to be in the best interests of shareholders, barring any superior proposals.

The most recent analyst rating on (AU:AVJ) stock is a Hold with a A$0.70 price target. To see the full list of analyst forecasts on Avjennings Limited stock, see the AU:AVJ Stock Forecast page.

More about Avjennings Limited

AVJennings Limited is a company listed on the Australian Securities Exchange (ASX: AVJ) that operates in the property development industry. It is involved in the development of residential properties, focusing on creating communities and housing solutions.

Average Trading Volume: 754,357

Current Market Cap: A$365.2M

For an in-depth examination of AVJ stock, go to TipRanks’ Overview page.