Rest home operator Arvida to raise $80 million in IPO

Mon, 17 Nov 2014

By Fiona Rotherham Nov. 17 (BusinessDesk) - Arvida, the retirement village operator formerly known as Hercules, has issued a prospectus for an initial public offer to raise $80 million for a planned mega merger of 17 privately-owned retirement homes. The prospectus, lodged with the Companies Office today ahead of a company briefing tomorrow, said the shares will be priced in a range of 85 cents to $1 apiece. The final price for the shares will be set through a bookbuild this week and listing on the NZX is expected on Dec. 18. The ma...

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