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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2013
Jun 19, 2013
65125_rns_2013-06-19_0010a7ef-ed7c-4f9d-b7a2-0151992f39b3.pdf
Capital/Financing Update
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Ingenia Communities Group Previously known as ING Real Estate Community Living Group
20 June 2013
Ingenia successfully completes $21.2 million Institutional Placement
Highlights
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$21.2 million raised at $0.32 per security
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Strong investor demand with institutional Placement significantly oversubscribed
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Capital raised to expand MHE portfolio with five ‘on strategy’ acquisitions
Ingenia Communities Group (ASX: INA) today announced the successful completion of a Placement of 66.15 million new securities at an issue price of $0.32 cents per security to institutional and sophisticated investors. The proceeds of the raising will be used to partially fund the acquisition of five Manufactured Home Estates currently under due diligence, expanding Ingenia’s MHE portfolio to over 1,000 homes/sites.
Ingenia Chief Executive Officer Simon Owen said he was pleased with the strong support of institutional investors and high levels of demand that have allowed Ingenia to broaden its investor base, and introduce a number of new investors to the Group’s register.
“The success of the placement indicates strong support from the market and endorses our strategy of focussing on cash yielding assets and the delivery of strong investment returns. Increasing our exposure to the Manufactured Home Estates sector through immediately accretive opportunities in identified market clusters with forecast unlevered IRRs of greater than 15% is a key focus of Ingenia’s growth, and will ensure that we capitalise on our leading position in identifying and establishing a presence in this attractive and largely untapped seniors living sector.
Level 5, 151 Castlereagh St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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“Importantly, this capital raising preserves our ability to fund our accretive development pipeline and potential acquisitions, ensuring we are able to maximise the value of the attractive investment options we have established through our pipeline and existing assets,” Mr Owen said.
Securities issued under the placement will rank equally with existing fully paid ordinary securities, with allotment and trading of the new securities expected to take place on 27 June 2013. Securities issued under the placement will be entitled to the June half year distribution, reaffirmed at 0.5 cents per security, which is payable in September 2013.
RBS Morgans Corporate Limited and Petra Capital acted as Joint Lead Managers in relation to the Placement.
Ingenia expects the trading halt implemented on Tuesday 18 June 2013 to be lifted at market open today.
ENDS
For further information please contact: Simon Owen Donna Byrne Chief Executive Officer Acting Investor Relations and Marketing Manager P 02 8263 0501 P 02 8263 0507 M 0412 389 339 M 0401 711 542
About Ingenia Communities Group
Ingenia Communities Group (ASX Code: INA) previously known as the ING Real Estate Community Living Group, is a stapled property group comprising Ingenia Communities Holdings Limited (ACN 154 444 925), Ingenia Communities Fund (ASRN 107 459 576) and Ingenia Communities Management Trust (ARSN 122 928 410). The Responsible Entity for each scheme is Ingenia Communities RE Limited (ACN 154 464 990) (AFSL415862).
Ingenia Communities Group is a leading operator, owner and developer of a diversified portfolio of seniors housing communities. Ingenia has 38 assets in Australia, comprising close to 2,600 units.
Level 5, 151 Castlereagh St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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