NEW YORK PROPERTY TRUST LISTS ON AUSTRALIAN STOCK EXCHANGE.

(From Asia Pulse)

MELBOURNE, Sept 26 Asia Pulse - A property trust focussing on office property in the New York tri-state made a modest debut today on the Australian Stock Exchange.

Reckson New York Property Trust (ASX:RNYCA) lifted just one cent above its 65 cent listing price before closing at break even for the day.

The company, which raised A$263 million (US$199 million) after closing oversubscribed, will give investors exposure to office property in the New York tri-state area made up of New York, New Jersey and Connecticut.

The fully paid issue price of $1.00 per unit is payable in two tranches with an initial payment of 65 cents and …