Sharechat Logo

Arvida Group Limited (NZX: ARV) Completion of Shortfall Bookbuild

Thursday 11th November 2021

Text too small?

Arvida Group Limited (NZX: ARV ) (Arvida) is pleased to announce the successful completion of the shortfall bookbuild component of its $175 million fully underwritten 1 for 6.57 pro rata renounceable rights offer (Rights Offer).

The clearing price under the shortfall bookbuild was $1.96 per new share, a premium of $0.11 per new share over the application price of $1.85 under the Rights Offer. Therefore eligible shareholders who elected not to take up their full entitlements and those who were ineligible shareholders under the terms of the Rights Offer will receive $0.11 for each new share not taken up by them.

Payment of the premium achieved is expected to be made on 22 November 2021. Settlement and allotment of new shares taken up under the shortfall bookbuild is expected to occur on 15 November 2021. The new shares issued under the Rights Offer will rank equally with Arvida’s existing shares.

A total of $330 million was raised under the Rights Offer and the placement completed on 18 October 2021 (Placement) in the capital raising announced by Arvida on 15 October 2021 to partly fund the acquisition of Arena Living’s six retirement villages. Both the Placement and Rights Offer were fully underwritten by Forsyth Barr Group Limited and Jarden Partners Limited.

Please see the link below for details

Completion of Shortfall Bookbuild

Source: Arvida Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

ArborGen Holdings Limited (NZX: ARB) Updates Market on FY22 Guidance
My Food Bag Group Limited (NZX: MFB) Q3 FY22 Trading Update
ikeGPS Group Limited (NZX: IKE) signs $0.9m deal with tier-1 electric utility
Tower Limited (NZX: TWR) Update on Tonga Volcanic Eruption and Tsunami Event
21st January 2022 Morning Report
Trade Window Holdings Limited (NZX: TWL) TradeWindow and Mastercard teams up
Genesis Energy Limited (NZX: GNE) FY22 Q2 Performance Report
Seeka Limited (NZX: SEK) Seeka announces dividend of 13 cents per share
20th January 2022 Morning Report
Z Energy Limited (NZX: ZEL) Q3FY33 Operating Data