Ryman Healthcare completes $1 billion placement offer

Ryman Healthcare has successfully completed the retail entitlement offer component of its $1 billion placement and entitlement offer.

The retail entitlement offer, which was part of a 1 for 3.05 pro-rata accelerated non-renounceable entitlement offer, raised approximately $280 million in gross proceeds.

Eligible retail shareholders subscribed for about $119m of new fully paid ordinary shares, with a take-up rate of 42%.

The company said the retail entitlement offer was well-supported, despite challenging market conditions.

The new shares offered under the retail entitlement offer are expected to be allotted and commence trading on the NZX on March 17, 2025.

Ryman owns and operates 49 retirement villages in New Zealand and Australia, with 15,300 residents and 7,700 staff.