As a recap, Cuscaden Peak, the sponsor of Paragon REIT, is offering to privatise the REIT at 98 cents per unit. This represents 1.07 times price/adjusted NAV, and is at a 10.9% and 12.8% premium over the one-month and 12-month volume-weighted average prices.
The board of directors of Paragon REIT has appointed PrimePartners Corporate Finance as the independent financial advisor (IFA) on the ongoing privatisation offer, according to a bourse filing on Feb 14.
The IFA will make a recommendation to Paragon REIT’s minority unitholders in due course.
