Arvida Group raises $75 million in IPO

Thu, 20 Nov 2014

By Fiona Rotherham Nov. 21 (BusinessDesk) - Arvida Group, the new retirement village operator, has raised the full $75 million sought through an initial public offering following strong demand from New Zealand and Australian institutions and listed companies. A further $5 million priority pool for existing residents, staff and investors in the 17 retirement villages and aged care facilities involved in the merger remains open until next Thursday. Following a successful bookbuild process, the offer price has been set at 95 cents a share...

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