Centuria Capital Group has announced it will issue close to 100 million new securities as part of a $99 million capital raise.
The proceeds from the raise will be used to fund Centuria’s acquisition of 360 Capital Group’s real estate management platform, which was announced last week.
“The Placement, Conditional Placement and Institutional Entitlement Offer will raise proceeds of approximately $99.1 million at an issue price of $1.00 per security, which results in approximately 99.1 million new securities being issued,” the firm said.
“New securities issued pursuant to the Placement, Conditional Placement and Institutional Entitlement Offer will rank equally with existing securities from the date of their issue.”
The acquisition of the real estate management platform is still subject to certain approvals from both 360 Capital Group stakeholders, and unit holders in the company’s 360 Capital Office Fund, Centuria said, and these securities will not be issued if these approvals are not given.
In addition, the issue of securities under the Conditional Placement is subject to approval from [Centuria Capital Group] securityholders,” Centuria said.
“If this approval is not received, no Securities will be issued under the Conditional Placement.”
The offer for the new securities will open on 30 November 2016, two days after 360 Capital Group’s annual general meeting, and closes on 28 December 2016.
Spend a few hours on the Lloyd’s of London trading floor and you’ll see what impact the royal commission and consequent class actions i...
Overnight the ruling government in the UK confirmed Boris Johnson as the new leader of the Conservative Party and will now take over the rol...
Queensland-based Heritage Bank has defied an industry trend to close physical shopfronts, instead expanding interstate for the first time wi...