Metlifecare raises $70 mln at 8.3 percent discount in institutional placement

Thu, 30 May 2013

May 31 (BusinessDesk) - Metlifecare, the retirement village operator and developer, raised $70 million at an 8.3 percent discount in a placement to institutional investors after yesterday’s bookbuild process was completed. Some $22.6 million shares were sold at $3.10 apiece after the bookbuild, which set the price, having been halted at $3.38 before the sale. Metlifecare plans to raise a further $10 million in a share purchase plan to existing investors, and will use the funds raised to repay debt. “The capital raising has generated strong...

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