ING Property Trust wins waiver

The stock exchange has granted a listing rule waiver to ING Property Trust in its takeover bid for Urbus Properties that will let small Urbus shareholders swap their shares for ING units.

The exemption means Urbus shareholders who accept ING's offer can be issued smaller holdings of ING units than those normally allowed.

ING is offering 98 per cent of one ING unit per Urbus share.