Argosy to raise $100M for Wellington building purchases

Mon, 17 Dec 2012

Dec. 18 (BusinessDesk) - Argosy Property, whose shareholders agreed to corporatise the company last year after buying out the ANZ Bank-owned manager, wants to raise up to $100 million to pay for two buildings housing long-term government tenants in Wellington. The new equity will come in two tranches, with $80 million raised from institutional and qualified investors and $20 million through a share purchase plan for existing shareholders, the Auckland-based property investor said in a statement. Shares in the placement to institutional inves...

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