Published 19 July 2012
Metlifecare Ltd has completed the bookbuild for the selldown of Retirement Villages NZ Ltd’s stake from 50.07% to 43.2%.
The selldown of 22.5 million shares will complete the transactions for Metlifecare’s merger with Private Life Care Holdings Ltd & Vision Senior Living Ltd.
Metlifecare managing director Alan Edwards said the sale generated strong support from investors, with demand of 3 times the available shares. Most have been allocated to retail shareholders.
The bookbuild price has been set at $2.20/share, with settlement on Monday 23 July.
Goldman Sachs acted as the arranger, sole book-runner & joint lead manager for the offer, accessing JBWere’s private wealth clients through their strategic alliance. Forsyth Barr was the other joint lead manager.
9 May 2012:Metlifecare deal at 55% NTA
9 March 2012: Metlifecare secures new funding facilities
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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.