INGENIA Communities Group has completed the placement and institutional component of entitlement offer, raising $73.66 million.
Ingenia completed the placement of 100.7 million new securities and the institutional component of an entitlement offer of 63.0 million new securities at an issue price of $0.45 cents per new security to sophisticated and wholesale investors.
The placement was significantly oversubscribed with strong demand from both domestic and offshore investors.
Ingenia CEO Simon Owen said he was pleased with the strong support of institutional investors and the high levels of demand that have allowed Ingenia to broaden its investor base.
The retail component of the entitlement offer, which is now fully underwritten, will raise $15.4 million.
Australian Property Journal