AVJennings Limited has officially been acquired by Proprium Capital Partners through a scheme of arrangement, triggering a special dividend payout and the company’s imminent delisting from the ASX.
- Scheme of arrangement completed with PM Nominees C Pty Ltd acquiring all shares
- Special fully franked dividend of $0.167 per share paid on 6 August 2025
- Scheme consideration of $0.488 cash per share paid on 14 August 2025
- All current AVJennings directors have resigned following acquisition
- Delisting from ASX and termination of SGX GlobalQuote quotation effective 15 August 2025
Completion of Acquisition
AVJennings Limited (ASX, AVJ), a key player in Australia's residential property development sector, has officially been acquired by PM Nominees C Pty Ltd, an investment vehicle linked to Proprium Capital Partners and AVID. This follows the successful implementation of a scheme of arrangement that saw the bidder acquire all outstanding shares in AVJennings.
The transaction marks a significant ownership change for AVJennings, which has been a publicly traded company on the ASX. Shareholders received a fully franked special dividend of $0.167 per share on 6 August 2025, followed by the scheme consideration payment of $0.488 per share on 14 August 2025. The combined payout reflects the agreed value of $0.655 per share, adjusted for the special dividend.
Corporate Governance and Market Impact
In line with the acquisition, all existing directors of AVJennings resigned effective immediately. This leadership transition signals the end of an era for the company’s governance under public ownership and paves the way for new management under the private ownership structure.
Consequently, AVJennings has applied for removal from the official ASX listing and for termination of its quotation on the Singapore Exchange’s SGX GlobalQuote platform. Both actions are set to take effect from the close of trading on 15 August 2025, effectively ending AVJennings’ presence on public equity markets.
Looking Ahead
While the acquisition closes a chapter on AVJennings as a listed entity, it opens questions about the strategic direction under Proprium Capital Partners and AVID’s stewardship. The new owners have yet to disclose detailed plans for the company’s future operations or growth initiatives. Market watchers will be keen to see how this transition affects AVJennings’ development projects and financial performance in the coming years.
For investors, the delisting removes a familiar name from the ASX, while the immediate financial returns via dividend and scheme consideration provide a clear exit value. The broader real estate sector will be watching closely to gauge how private ownership might influence AVJennings’ role in the residential property market.
Bottom Line?
AVJennings’ transition to private ownership closes a public chapter but raises fresh questions about its future strategy and market role.
Questions in the middle?
- What strategic changes will Proprium Capital Partners implement post-acquisition?
- How will the delisting affect AVJennings’ ongoing residential development projects?
- What are the implications for shareholders and the broader real estate market?