Precinct came up with 'innovative' way to mitigate capital raising unfairness: NZSA

Tue, 26 Feb 2019

By Jenny Ruth Feb. 26 (BusinessDesk) - The New Zealand Shareholders’ Association says Precinct Properties came up with an “innovative” solution to overcome the unfairness to retail investors of its up to $160 million capital raising. Precinct raised $130 million from a placement to institutional investors last week at $1.48 per share. The shares were trading at $1.535 the day before the capital raising was announced, and were recently at $1.485. The rest of the money will be raised from retail investors who can apply for up to $50,...

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