New Zealand: Oceania Healthcare to Increase New Zealand $ 100 Million for Acquisitions
Oceania Healthcare, New Zealand’s third-largest residential care supplier for the aged, is elevating NZ $ 100 million (US $ 69.7 million) to finance the acquisition of the Waterford Retirement Village at Hobsonville Franklin.
Waterford includes 64 villas and 36 self-catering flats, whereas the 6.1 hectares of land in Franklin consists of two hectares of land presently leased to Oceania and 4.1 hectares of naked land adjoining to the positioning. The leased web site presently has one care facility solely with 44 normal care beds.
Oceania mentioned it intends to redevelop the mixed web site into an built-in village with greater than 200 residences when accomplished.
The group accomplished the NZ $ 80 million institutional placement which it mentioned was “strongly supported by current institutional shareholders and in addition attracted vital affords from different institutional buyers.”
The worth was set at NZ $ 1.30 per share. This was an 8.1% discount from the five-day VWAP.
On the finish of final week, the group launched its NZ $ 20 million retail providing. The providing value of the shares would be the decrease of the providing providing value of NZ $ 1.30 and a discount of two.5% from the five-day quantity weighted common value of the Oceania shares. traded on the NZX through the 5 enterprise days previous the retail provide. closes.
Provide ends April 12.
The location was absolutely subscribed by Jarden Companions and Macquarie Securities which additionally handle the retail providing.
And following the departure of CEO Earl Gasparich from Metlifecare in early March, Oceania has appointed CFO Brent Pattison to exchange him.
He joined Oceania Healthcare as CFO in January of final 12 months. A specialist within the retirement and senior care business, Pattison has over a decade of funding banking expertise; chief in mergers and acquisitions, takeovers and monetary market transactions, together with IPOs at Jarden and Forsyth Barr. Certainly, he was senior advisor on the IPO of Oceania Healthcare.