UPDATE: Precinct raising $150M from an underwritten placement and retail offer

Tue, 19 Feb 2019

(Updates to add further detail from second par, adds comment from the New Zealand Shareholders' Association from fifth par) By Jenny Ruth Feb. 19 (BusinessDesk) - Precinct Properties New Zealand is raising $150 million with only $20 million available to retail shareholders and has paid for underwriting of both it and the $130 million placement to institutional investors. The issue’s price will be determined by the institutional book-building auction but with a floor of $1.45 per share. Credit Suisse and affiliated firm FNZC are the lea...

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