Oceania to raise $100m to buy new village, land

Tue, 23 Mar 2021

Oceania Healthcare said it will raise up to $100 million of fresh equity to pay for the $77m acquisition of an existing retirement village at Hobsonville Point and 6.1 hectares of land at Franklin.Oceania currently leases two hectares of the Franklin land on which stands a care-only facility with 44 standard care beds and it plans to redevelop the combined site into an integrated village.The company will raise $80m of the equity through a fully-underwritten placement to institutional investors and the other up to $20m will come from a non-under...

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