NEWS ARCHIVE

Hastings float steady on listing

THE Westpac-controlled Hastings Diversified Utilities Fund (HDUF) floated on Monday to a lukewarm response, closing the day at $2.53, just short of its $2.56 issue price.

Its cornerstone assets are in the Moomba-to-Adelaide pipeline, the Pilbara pipeline in Western Australia and the South West Queensland pipeline system.

At 1185km, the Moomba-to-Adelaide pipeline comprises just over half the total pipeline length owned by the company and is its single most valuable asset.

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