Vital Healthcare flags rights issue next month, suspends distribution reinvestment plan

Mon, 24 Jun 2013

By Paul McBeth June 25 (BusinessDesk) - Vital Healthcare Property Trust, whose Canadian cornerstone investor is seeking to build its stake, is planning a rights issue next month and has suspended its distribution reinvestment plan for the third-quarter. The medical and healthcare property investor’s manager, Vital Healthcare Management, intends to undertake a pro-rata renounceable offer of new units in late July, it said in a statement, without indicating the size, terms or pricing. Because of the issue, the manager’s board has suspended the...

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