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ING Property Trust, New Zealand's third-largest publicly traded property investor, has deferred a plan to spend $200 million on properties in Japan, saying too few investors supported the proposal.
"Having considered the feedback from investors following the recent announcement, the board has recognised that sufficient consensus amongst unit-holders does not exist at this time and [it has] made a decision to defer investment in the Japanese market," the Auckland-based company said in a statement to the stock exchange.
- BLOOMBERG
