New Zealand: Arvida raises NZ$92m for recent acquisition

Retirement home operator Arvida has raised NZ$92m (US$62.3m) in a fully underwritten 1-for-5.7 pro rata renounceable rights issue. Approximately 69 million new shares were taken up by shareholders, representing approximately 86.5% of the new shares available under the offer. This represents gross proceeds of NZ$79.3m. Around 10.8 million shares out of a total rights issue…

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