Investore builds war chest with $100m capital raising

Wed, 29 Apr 2020

Investore Property is eyeing up potential acquisitions with a $100 million capital raising. The commercial landlord will raise $85 million in a fully underwritten placement to institutional investors and another $15 million through a share purchase plan at $1.59 a share, a 10.2 percent discount to yesterday’s closing price of $1.77. Investore said it will accept up to another $5 million of additional applications at its discretion. The funds raised will repay bank debt, taking Investore’s loan-to-value ratio down to 30.9 percent from 41.8...

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