Resthome operator Arvida says its care beds will provide steady cash flows for investors

Tue, 18 Nov 2014

By Fiona Rotherham Nov. 18 (BusinessDesk) - Arvida, the retirement village operator planning to raise $80 million in an initial public offering, said its high proportion of care beds provides steady cash flows that will enable it to pay investors a healthy quarterly dividend and help fund new developments after listing. The company formerly known as Hercules issued a prospectus yesterday for an IPO covering a planned mega merger of 17 privately-owned retirement homes that has taken 12 months to pull together. Chief executive Bill McDon...

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