Warehouse raises $100 mln from institutions for financial services expansion

Thu, 06 Mar 2014

March 7 (BusinessDesk) - Warehouse Group, the country’s biggest listed retailer, successfully raised $100 million from institutional investors to help fund its drive into financial services. The Auckland-based company sold the shares at $3.23, an 11 percent discount to its last trading price, to 15 local and Australian institutions and a broad range of eligible New Zealand retail investors, it said in a statement. The settlement date for the new shares is March 13. It will launch a share purchase plan to raise a further $15 million from exis...

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