Argosy raises $86.9M in rights issue, bookbuild to fund acquisitions

Mon, 05 Aug 2013

Aug 6 (BusinessDesk) - Argosy Property, which recently bought two Wellington commercial properties, has raised $86.9 million in a rights issue and bookbuild to repay bank debt taken on for its recent acquisitions. The Auckland-based company sold 87.2 million shares at 89 cents apiece, or $77.6 million, to shareholders who exercised their rights in a 1-for-7 pro-rata renounceable offer, it said in a statement. That made up about 89 percent of the available shares on offer, and the remainder was filled through a shortfall bookbuild at a premiu...

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