Oceania Healthcare stake sold for $301.4 million

Thu, 30 Jan 2020

Oceania Healthcare's cornerstone shareholder Macquarie Group sold its 41 percent stake in the company for $301.4 million.The 251 million shares were sold for $1.20 a share in an underwritten sell-down, a 4 percent discount to the last close of $1.25 on the NZX. Oceania shares' net asset backing at Nov. 30 was $1.15.The transaction was fully underwritten with the shares sold to a range of New Zealand and Australian institutional investors, and New Zealand retail investors, Oceania Healthcare said in a statement. “Following settlement of the sale...

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