Warehouse shareholders cool on last tranche of $115mln capital raise

Thu, 10 Apr 2014

April 10 (BusinessDesk) – Warehouse Group, New Zealand’s largest listed retailer, has completed a $115 million capital-raising, although the final $15 million tranche offered to shareholders was not fully taken up. Underwriters Deutsche Craigs took $4.2 million of the $15 million of shares offered in a share purchase plan that tops up a March 6 placement of $100 million in new shares. The funds are being raised to strengthen the retailer’s balance sheet as it prepares to buy the Diners Club New Zealand business for $3 million and beef up its...

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