Centuria Capital Group raises $265M
- Centuria Capital Group completed its institutional placement and the institutional component of its accelerated entitlement offer to raise approximately $265 million.
- Trading of the company’s securities is scheduled to resume on the Australian Securities Exchange today following the completion of the institutional capital raising phase.
- The group stated that the capital raising initiative aims to secure a total of approximately $300 million once the subsequent retail entitlement offer is completed.
Centuria Capital Group (ASX:CNI) has raised $265 million through a completed institutional placement and the institutional component of its entitlement offer.
The institutional capital raising forms the bulk of a larger $300 million equity raising initiative that was announced by the group on June 22.
The institutional entitlement offer secured an 82% take-up rate from eligible institutional investors, resulting in the planned issuance of approximately 133 million new securities at $2 each.
Centuria stated that the remaining retail component of the entitlement offer is scheduled to open on June 26 to raise an additional $35 million from eligible retail securityholders in Australia and New Zealand.
Following the announcement, the Centuria Capital Group share price was unchanged at $2.
The new securities issued under the placement and institutional offer are scheduled for settlement on June 30 and will rank equally with existing securities upon allotment.
Trading of the group's securities is scheduled to resume on the Australian Securities Exchange from June 23.
