Centro Retail Australia Begins Trading After Reorganization
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Centro Retail Australia shares began trading today after Centro Properties Group shareholders and lenders agreed to a plan to wipe out A$2.9 billion ($3 billion) of debt, allowing the creation of the new entity.
Centro Retail shares closed at A$1.74 in Sydney, valuing the 1.34 billion of quoted securities at A$2.3 billion. The benchmark S&P/ASX 200 Index rose 0.8 percent.