Laptrust to weigh bids for property fund shares

Investors interested in buying into property fund Laptrust Imara I-Reit will have to negotiate a price acceptable to pension scheme Laptrust which currently owns nearly all the units (shares) in the newly listed entity.

The unique arrangement, a departure from the norm where shares trade transparently and freely after original shareholders sell a part of their stakes, has been approved by regulators and will remain in place for three years.