Following ANZ National Bank's $2.6 billion takeover of ING NZ last year (soon to be known as OnePath), listed property trusts ING Property Trust and ING Medical Properties Trust have also had a name change.ING Property Trust, which owns a $933 million por
Following ANZ National Bank’s $2.6 billion takeover of ING NZ last year (soon to be known as OnePath), listed property trusts ING Property Trust and ING Medical Properties Trust have also had a name change.
ING Property Trust, which owns a $933 million portfolio of buildings, will now be known as Argosy Property Trust, and ING Medical Properties Trust will be rebranded to Vital Healthcare.
Argosy Property Trust’s new moniker is inspired by the lofty idea of ships coming together to operate in a fleet.
“Just like an argosy, the Trust remains robust, moving forward with strength, to deliver a steady dividend yield, as well as the potential for capital gains, for its unitholders,” ING (new name not effective until October 1) said in its announcement this morning.
Its NZX code will change to ARG when its new name comes into effect on October 1.
ING Medical Properties, to become Vital Healthcare, owns buildings such as Ascot Healthcare and Napier Health Centre with a total portfolio value of $292 million.
Its new NZX code as of October 1 will be VHP.
