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Hot Topic Hawke’s Bay
General Business
4 mins to read

Precinct raising $150m for upcoming developments

The equity raise will reduce gearing ahead of significant development spend.

Andrew Bevin Tue, 19 Feb 2019

Trading in Precinct Properties shares halted for a day after it used its half-year financial results to announce a $150 million capital raising through a placement and retail offer.

It will be used to repay bank debt, which is sitting at $725.8m, with the aim of dropping gearing from 24.3 % to

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Andrew Bevin Tue, 19 Feb 2019
Contact the Writer: andrew@nbr.co.nz
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Tags
Precinct Property Scott Pritchard Property
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