Shares of Arvida edge up 2 percent in debut on NZX

Wed, 17 Dec 2014

By Suze Metherell Dec. 18 (BusinessDesk) - Shares of Arvida Group, the new retirement village operator, rose 2 percent on its NZX debut after its initial public offer raised $80 million in capital which will be used to reduce debt. The stock first traded at 97 cents, before dropping back to its offer price of 95 cents, valuing the company at $215 million. The Christchurch-based company is integrating 17 retirement villages and aged care facilities. The IPO included a $5 million priority pool for existing residents, staff and investors to...

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