Investor Resources

This Investor Centre resources section provides information for our securityholders and those considering becoming a securityholder. 

ASX Releases

Reporting Suite














Annual Reports

Annual General Meeting Information















Investor Days


Investor Resources

Tax information

NAV Splits

Breakdown of the value of a ALX stapled security

Breakdown of the value of a MIG stapled security


US ownership restrictions

Analyst Coverage

Research house Analyst
Barrenjoey Matt Ryan
Bank of America Reinhardt Van Der Walt
Evans and Partners Cameron McDonald
Insight Investment Research Robert Crimes
Jefferies Anthony Moulder
Macquarie Research Ian Myles
Morgan Stanley Rob Koh
Morgans Nathan Lead
Morningstar Equity Research Adrian Atkins
RBC Owen Birrell
UBS Andre Fromyhr


Atlas Arteria Limited and Atlas Arteria International Limited together with their controlled entities (Atlas Arteria Group) are followed by a number of research houses and analysts, including those listed above (Brokers). This list is provided for information only. Our publishing this list does not constitute a recommendation, confirmation or endorsement by any member of the Atlas Arteria Group, their directors, employees or representatives, of any of the opinions, estimates, forecasts, predictions, conclusions, recommendations, statements or representations, contained in any report a Broker may produce (Broker Report). All Broker Reports are published by and contain the information, opinions and predictions of the relevant Broker. Investors and other third parties should be aware that Broker Reports may contain errors, assumptions or omissions. Neither the Atlas Arteria Group nor its directors or employees give any assurance or warranty or otherwise represent that any Broker Report is accurate, true, complete, correct, current or otherwise free from error. Neither the Atlas Arteria Group, nor any of their directors or employees undertake or accept any obligation to review, update or correct anything in any Broker Report.

Frequently asked questions

How do I invest in Atlas Arteria securities?

Atlas Arteria is listed on the Australian Securities Exchange (ASX) under the code ‘ALX’. Therefore, to purchase or sell securities, you need to contact your broker. If you do not already have a broker, you can call the ASX Broker Referral Service on 1300 300 279 or go to its website:

Why did Macquarie Atlas change its name to Atlas Arteria?

Since listing, Atlas Arteria, or Macquarie Atlas Roads as it was then known, has been externally managed by Macquarie. At the Annual General Meeting on 15 May 2018, security holders voted to approve the internalisation of ALX management and change its name from Macquarie Atlas Roads to Atlas Arteria. The management arrangements with Macquarie Fund Advisers Pty Limited under the Atlas Arteria Management and Advisory Agreements were terminated on 31 March 2019.

What is a stapled security?

Atlas Arteria trades on the Australian Securities Exchange (ASX) as a stapled security under the code ‘ALX’. An ALX security comprises:

  • one share in Atlas Arteria Limited; and
  • one share in Atlas Arteria International Limited

The shares that comprise an ALX security are stapled together and cannot be traded, transferred or otherwise dealt with separately.

Why does ALX invest only in businesses outside Australia?

There is no policy against investing in assets within Australia. While there is always some additional risk (mainly currency risk) in owning assets overseas, our research has shown that toll road usage behaviour is very similar in Western developed countries to that in Australia, and the same toll road fundamentals apply.

How does ALX manage its exposure to interest rate movements?

Generally, ALX’s investments reduce their interest rate exposure by fixing some proportion of the debt for each asset.

Can I reinvest my distribution?

Currently there is no Distribution Reinvestment Plan (DRP) in place for ALX securityholders.

What is the Australian Tax Office’s view of stapled securities?

The ATO has developed information to assist investors who own stapled securities determine their capital gains tax (CGT) obligations. Click on the following link to read more: ATO information on stapled securities.

I was formerly a MIG investor and received Atlas Arteria securities as a result of the demerger. What is my cost base in Atlas Arteria for capital gains tax?

Your cost base in Atlas Arteria will depend on your original cost base in MIG. A calculator to help you determine the apportionment of your MIG cost base into your cost bases in Atlas Arteria and Intoll is provided within the Investor Resources section of this website. That said, we recommend that investors consult a professional tax advisor if you have any questions about calculating cost bases or taxes.

How do I change my address or bank details?

How you change your address details depends on your individual circumstances. If you have a CHESS-sponsored holding (prefixed with an ‘X’) you must change your address through your broker.  If you have an issue sponsored holding (prefixed with an ‘I’) then you can update your address details for individual, joint or company holdings by contacting the registry, Computershare Investor Services. 

You can also download the change of address form and make changes to your bank account from Computershare’s Investor Centre:

What are the contact details for the registry?

ALX’s share registry is Computershare Investor Services Pty Limited. Their details are:

  • Telephone: 1800 267 108 (toll free number for calling within Australia)
  • Telephone: +61 3 9415 4053 (for international calls)
  • Fax: +61 3 9473 2500
  • Address: Computershare Investor Services Pty Ltd, GPO Box 2975, Melbourne, VIC 3000
  • Email: [email protected]
  • Website:


When did Atlas Arteria list?

It listed on 25 January 2010 as Macquarie Atlas Roads (MQA) and subsequently changed its name to Atlas Arteria (ALX) following the securityholder vote to internalise management on 15 May 2018.

Atlas Arteria is listed on the Australian Securities Exchange. The directors have no current intention to list Atlas Arteria on any other stock exchanges.

Is Atlas Arteria listed on any other stock exchange?

Atlas Arteria is listed on the Australian Securities Exchange (ASX) under the code ‘ALX’. The directors have no current intention to list Atlas Arteria on any other stock exchange.

Why use a stapled security structure?

ALX is a stapled structure consisting of Atlas Arteria Limited (ATLAX) (an Australian public company) and Atlas Arteria International Limited (ATLIX) (an exempted mutual fund company incorporated in Bermuda). The two entities, together known as ALX, own and manage the interests of the portfolio being APRR, ADELAC, Dulles Greenway and Warnow Tunnel.

Stapling allows investors to invest in different entities that are traded as one. This means that investors can receive the benefits of investing in different types of entities within the one traded instrument. Generally, a stapling deed governs the stapling arrangements.

Where a foreign security is stapled to a domestic security, the regulatory requirements of both jurisdictions must be considered. This gives additional comfort to security holders, given that corporate governance standards must always meet the “highest common standard”.

How does Atlas Arteria manage foreign exchange risk?

Atlas Arteria does not currently hedge foreign exchange exposure on overseas investments and does not intend to do so in the future. However, Atlas Arteria often hedges the foreign exchange risk of future overseas equity commitments, and in the case of new acquisitions, if any, Atlas Arteria will hedge the foreign exchange risk on the acquisition price.

What is Atlas Arteria’s distribution policy?

Atlas Arteria commenced payment of distributions in April 2013 and aims to pay distributions twice a year in April and October, however payment is at the discretion of the boards. Every six months, as cash is received by ALX from its assets, the boards assess the payment of a distribution.

Does Atlas Arteria send out annual tax statements?

No, Atlas Arteria does not send out annual tax statements or tax booklets. Investors should refer to the distribution statements sent at the time of each distribution payment when completing tax returns.

How do I apportion the Atlas Arteria (ALX) share price between ATLAX and ATLIX?

Our stapled securities are comprised of two separate assets for capital gains tax purposes (one Atlas Arteria Limited share and one Atlas Arteria International Limited share). For capital gains tax purposes, investors may need to apportion the cost of each stapled security and the proceeds upon sale over the separate assets that make up the stapled security. This apportionment should be done on a reasonable basis.

We provide suggested splits within the Investor Resources section of this website. That said, we recommend that investors consult a professional tax advisor if you have any questions about calculating cost bases or taxes.

I have been asked to confirm my Tax Residency, what do I need to do and why?

If you are a former or current securityholder in ALX you will be required to certify your tax residency due to changes in Bermudan regulations that affect Atlas Arteria International Limited (ATLIX), one of the entities in the Atlas Arteria stapled security structure.

The Government of Bermuda has agreed to participate in the exchange of financial account information under a global regime known as the Common Reporting Standard (CRS).  Accordingly, you may have received communication from Computershare, ALX’s share registry, asking you to certify your tax residency.

Please follow the instructions provided in the communication to complete your certification. If you have any questions or concerns, please do not hesitate to contact Computershare on 1800 267 108 (overseas +61 3 9415 4053).

How can I choose to receive investor communications electronically?

You can elect to receive your distribution statement, notices of meeting, proxy forms and notification of the release of the annual report electronically. This ensures we are providing you with information you need in the fastest, most cost-effective manner possible, whilst also reducing our environmental impact. Because security and privacy details are important, you will always be emailed a link to a secured, encrypted website rather than receiving any attached documents by email. If you wish to set up this facility, you can do so online by signing in to Computershare’s Investor Centre or contacting our registry directly.

Implications of the US ownership restrictions for US investors?

Please refer to the following document on US ownership restrictions.

Contact ALX Investor Relations

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