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Real estate fund manager Folkestone Limited (ASX:FLK) has inked a deal to buy a subsidiary of Austock Group Limited (ASX:ACK).
Subject to shareholder approval Folkestone will acquire all of Austock’s shares in Austock Property Funds Management and related entities in the property funds management business.
Austock Property manages ASX-listed Australian Education Trust (ASX:AEU) and Australian Social Infrastructure Fund (ASX:AZF).
Austock Group says it is pleased it can retain an interest in the property funds sector through its on-going investment in Folkestone.
Folkestone says the Austock Property acquisition is in line with its strategy to expand its funds management platform.
Folkestone rebounded to an interim profit of $711 million in the six months to December 31, 2011.
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Last
$6.29 |
Change
0.100(1.62%) |
Mkt cap ! $2.488B | |||
| Open | High | Low | Value | Volume |
| $6.21 | $6.30 | $6.11 | $5.509M | 880.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1237 | $6.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.85 | 44572 | 2 |
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| Last trade - 15.59pm 12/08/2025 (20 minute delay) ? |
| GDG (ASX) Chart |