Investore Property Limited (NZX:IPL) is planning to raise up to $100 million through a $85 million underwritten placement and a $15 million share purchase plan. The net proceeds of the Offer will be used to provide:
- Funding flexibility to continue the company’s strategy to grow its portfolio;
- Positioning it well to secure investment opportunities that may arise;
- Continue its objective of maximising distributions and total returns to investors over the medium to long term.
At NZST 12:42PM, the stock was trading at $1.770 per share, no change from its previous close.