Sharechat Logo

HGH meets Challenger Bank milestone & NZ$210m equity raise

Monday 8th April 2024

Text too small?

Heartland announces indicative regulatory approval of Challenger Bank acquisition, and NZ$210m equity raise

 

Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce that it has received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank Limited’s acquisition of Challenger Bank Limited from Challenger Limited (ASX: CGF).

 

Heartland also announces a NZ$210 million equity raise, comprising an NZ$105 million underwritten institutional placement (Placement) and a NZ$105 million underwritten 1 for 6.85 accelerated non-renounceable entitlement offer (Entitlement Offer).

 

APRA and RBNZ’s final regulatory approvals are conditional on the successful completion of the Placement and Entitlement Offer.

 

Included in this announcement is:

1. Offer Announcement

2. Offer Document

3. Investor Presentation

4. NZX Corporate Action Notice

5. Cleansing Notice

 

ENDS



  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:

Oceania Continues to Deliver to Strategy
BLT - Revenue growth and a return to profitability
2CC - FY24 results - Record profit and dividend declared
NZ Blood Workers plan 24-hour strike for pay parity
May 24th Morning Report
REL - Board Succession Planning
thl obtains bank approval for covenant amendments
MFB resumes paying dividends; H2 earnings up year on year
May 23rd Morning Report
Federated Farmers put banks on notice