WELLINGTON May 31 New Zealand rest home
operator Metlifecare Ltd said on Friday it had raised
NZ$70 million ($56.5 million) through a share issue to fund
It said it had sold about 22.5 million new shares at NZ$3.10
each, a discount of 8.3 percent to the stock's last price before
it was placed on a trading halt.
"The capital raising has generated strong support from our
existing shareholders. The capital raising was also successful
in attracting a number of new offshore institutional investors
and expanding our shareholder base through eligible investors of
the retail brokers," Managing Director Alan Edwards said in a
The issue was totally underwritten and managed by Goldman
Existing shareholders will be offered the chance to buy
extra shares at a later stage.
The capital raising follows Metlifecare's acquisition of the
unlisted Vision Senior Living Limited and Private Life Care
Holdings Limited (PLC) last year.
Metlifecare Is New Zealand's third-biggest listed retirement
village operator by capitalisation, after Ryman Healthcare
and Summerset Group.