Augusta to raise $45m, expects to post $27m annual loss

Tue, 05 May 2020

Augusta Capital plans to raise $45 million through both a placement to institutions and an accelerated rights issue, both of which are deeply discounted but still fully underwritten by Forsyth Barr and Jarden. The property company's erstwhile suitor, ASX-listed Centuria Capital, has agreed to participate in the capital raising and will get a seat on Augusta's board. Augusta said Centuria will end up with a minimum 19 percent stake but may go as high as just below 25 percent – the Takeovers Panel relaxed rules limiting shareholdings to 20...

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