Heartland raises $20 mln from institutions at 4.6% discount; trading halt lifted

Mon, 12 Dec 2016

By Sophie Boot Dec. 13 (BusinessDesk) - Heartland Bank's trading halt has been lifted after the bank raised $20 million from institutional investors at $1.46 per share, a 4.6 percent discount to the last trading price. The bank said yesterday that it wants to raise up to $30 million through a combination of the bookbuild and a share purchase plan which will offer New Zealand-resident shareholders up to $15,000 worth of shares each. The funds raised will help maintain the lender's capital ratio after a period of strong credit expansion an...

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