Kiwi Property plans $161m capital raising as Auckland expansion continues

Sun, 18 Jun 2017

By Sophie Boot June 19 (BusinessDesk) - Kiwi Property Group, the largest property company listed on the NZX, plans to raise $161 million to fund expansion in Auckland as it sees strong growth continuing. The Auckland-based company will sell about 118 million shares at $1.36 each in the 11-for-one entitlement offer, a 4.5 percent discount to the theoretical ex-entitlement price of $1.4242, it said in a statement. The shares last traded at $1.43, and have gained 3.3 percent this year. Kiwi Property said it intends to use funding from th...

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