This evening directors of DNZ Property Fund will know how manyshareholders took up the offer of shares in its $35 million capital raising.Today the offer closed for existing shareholders in a priority pool to subscribe.When NBR called it was too early to
This evening directors of DNZ Property Fund will know how manyshareholders took up the offer of shares in its $35 million capital raising.
Today the offer closed for existing shareholders in a priority pool to subscribe.
When NBR called it was too early to say how many had bought into the offer.
“I haven’t seen any final numbers yet,” chairman Tim Storey said.
“It’s only stage one, the offer to existing shareholders in the priority, that closes today then the institutional offers close and we have the book build next week.”
The offer is not underwritten, and can be oversubscribed by up to $10 million.
Its expected allocation and allotment date is August 13, with trading on NZX scheduled to start August 16.
The company tried raising $140 million and listing on NZX last year but that offer was withdrawn amid controversy.
DNZ Property Fund owns 55 properties with 265 tenants, at a total value of $671 million.
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