AVJennings

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AVJennings
Company typeSubsidiary
ASX: AVJ
SGX: A05
IndustryHome construction
Founded1932
FoundersAlbert Victor Jennings
HeadquartersHawthorn, Victoria
Area served
Australia
Key people
Phil Kearns (CEO)
ProductsHouses
Revenue$320 million (2024)
$19 million (2024)
ParentAvid Property Group
Websitewww.avjennings.com.au

AVJennings is a home construction company in Australia. Formerly listed on the Australian Securities Exchange and Singapore Exchange, it is a subsidiary of the Avid Property Group.

History

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AVJennings was founded by Albert Victor Jennings in 1932.[1][2] In 1950, it was listed on the Australian Securities Exchange.[3] It became a dual listed company with a listing on the Singapore Exchange.[4]

In April 2000, majority shareholder MPH Group launched a takeover offer to acquire the 27% of share in AVJennings that it did not already own.[5] At the end of the process it MPH ended up with a 93% shareholding.[6] In March 2001, MPH began proceedings to compulsorily acquire the remaining shares.[7]

In August 2010, AVJennings' contract building division was sold to Sekisui House leaving it to focus on land and residential developments.[8][9]

In August 2025, AVJennings was taken over by Avid Property Group and delisted.[10][11][12][13]

References

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  1. ^ Air Albert Jennings Property Council of Australia
  2. ^ 85 years and counting AVJennings 5 January 2017
  3. ^ Jennings files prospectus Sun News-Pictorial 21 November 1950 page 21
  4. ^ Property developer AVJennings attracts $326 million privatisation offer Straits Times 29 November 2024
  5. ^ Jennings shares leap as MPH seeks to mop up Australian Financial Review 28 April 2000
  6. ^ MPH Limited advice re T/O offers for shares & options AVJennings 28 July 2000
  7. ^ MPH Limited to proceed to compulsory acqiistion AVJennings 8 March 2001
  8. ^ House builder AV Jennings sells contract division to Japanese firm Sydney Morning Herald 12 June 2010
  9. ^ AVJennings moves into Noosa Australian Financial Review 24 November 2010
  10. ^ Private equity-backed developer AVID Property Group lobs $374m takeover bid for AVJennings Business News 28 November 2024
  11. ^ Home builder AVJennings accepts $365m takeover bid Australian Financial Review 1 April 2025
  12. ^ AVID completes acquisition of AVJennings AVJennings 14 August 2025
  13. ^ AVJennigs Limited - Removal from Official List Australian Securities Exchange 15 August 2025