DNZ raises $115 mln in discounted share placement to fund Countdown sites purchase

Wed, 23 Sep 2015

By Suze Metherell Sept. 24 (BusinessDesk) - DNZ Property Fund, which is changing its name to Stride Property, has raised $115 million through the placement of new shares, which it will use to help fund the acquisition of a supermarket property portfolio for $287 million. The 59.4 million share placement was fully subscribed at $1.94 a share, a 6.5 percent discount to DNZ's last price before the stock was placed in a trading halt. DNZ plans to raise a further $15 million to fund the acquisition through a share purchase plan. The Auckla...

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