Du Val dangles NZX listing, seeks debt swap for equity

Charlotte and Kenyon Clarke. (Image: Du Val)

Mon, 29 Jan 2024

Du Val Group says investors who don't agree to convert their investment and outstanding cash distributions into equity could forgo any returns for years.The firm's long-awaited information memorandum, released this month to investors, would see a reformatted Du Val Property Group issue 200 million shares at $2-a-share to convert $94.4m of existing lenders' debt to equity.The memorandum suggests that the transaction may eventually lead to either an initial public offering or direct listing on the New Zealand stock exchange (NZX).It v...

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