Aveo hoses down takeover talk after shares spike

Retirement village owner and operator Aveo has hosed down speculation it is readying to announce an all of company transaction, saying there was no certainty of a deal.

Aveo’s shares soared 10 per cent to $2.13 amid growing speculation the group was being stalked by Hong Kong real estate group Gaw Capital Partners and another unnamed bidder.

Aveo chairman Seng Huang Lee is hoping a strategic review will realise shareholder value. Credit:Fiona Morris

Aveo paused the trading in its shares at 3pm on Tuesday after being contacted by market operator, the Australian Securities Exchange, over concerns about its share price spike.

Aveo, which is chaired by Malaysian billionaire and largest shareholder Seng Huang Lee, updated the market after close to say due diligence was continuing with unnamed parties.


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