Asset Plus to raise $100m, undeterred by market ructions

Wed, 11 Mar 2020

Asset Plus looked through heightened market volatility and pressed ahead with plans to raise $100 million.The company said yesterday it would sell shares at 50 cents apiece in an underwritten 1.235-for-1 pro rata rights offer to help fund two developments that would overhaul its portfolio. That was a discount to the 58 cents the shares closed at on Monday. And while they sank to 53 cents yesterday, they’ve recovered to to 55 cents today.The funds raised would go towards a $115 million development in Auckland’s Munroe Lane, with Auckland Council...

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