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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2019
Oct 16, 2019
65125_rns_2019-10-16_dd9aa5df-6359-4da8-b840-1bfa7e908bfd.pdf
Capital/Financing Update
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ASX / Media Release
17 October 2019
Ingenia successfully completes institutional component of $131.1 million capital raising
Highlights
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Strong investor demand for $21.3 million placement
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Fully underwritten accelerated non-renounceable pro rata entitlement offer to raise $109.8 million – significant support for institutional component
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$102.7 million capital raised to fund identified opportunities with $18.4 million for future growth opportunities
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Offer Booklet for retail component of 2 for 17 entitlement offer to be despatched on 23 October 2019
Ingenia Communities Group (ASX: INA) today announced the successful completion of the $21.3 million placement of approximately 5.4 million securities and the institutional component of the entitlement offer at an issue price of $3.93 per security. There was strong demand from both domestic and offshore institutional investors.
The majority ($102.7 million) of the funds raised will be deployed in the acquisition of three established communities, two parcels of land adjoining existing communities and a large greenfield site north of Sydney. The remaining funds are expected to be deployed as identified pipeline opportunities and developments progress.
The acquisitions consolidate Ingenia’s position as a leader in the lifestyle communities sector. They are forecast to settle throughout FY20 (subject to due diligence, Board approvals and exchange of contract) and will add 540 income producing sites and 640 development sites to the portfolio.
Ingenia Chief Executive Officer, Simon Owen said he was very pleased to see such overwhelming demand from both existing investors and new entrants to the Group’s register, with international investors increasingly represented.
“As a result of the strong demand from a broad range of investors, we have continued to grow the Group’s investor base, while ensuring our existing investors have the ability to participate in Ingenia’s growth.”
Level 9, 115 Pitt St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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Sun Communities has supported the raising, participating in both the entitlement offer and placement.
Securities issued under the placement and institutional component of the entitlement offer will rank equally with existing fully paid ordinary securities and will be entitled to receive the FY20 interim distribution, which is payable in March 2020. The trading of the new securities is expected to occur on 30 October 2019.
Documentation for the retail component of the entitlement offer is expected to be despatched to eligible retail securityholders on Wednesday 23 October 2019. Eligible securityholders are those with a registered address in Australia or New Zealand on the record date of 7:00pm (AEDT) on Friday 18 October 2019.
Citigroup Global Markets Australia Pty Limited, Goldman Sachs Australia Pty Ltd and Moelis Australia Advisory Pty Limited were Joint Lead Managers, Underwriters and Bookrunners in relation to the capital raising. HWL Ebsworth acted as legal adviser to Ingenia and Baker McKenzie acted as international counsel.
The Placement was made under the company’s issuing capacity under ASX Listing Rule 7.1.
ENDS
For further information please contact: Donna Byrne General Manager Investor Relations P 02 8263 0507 M 0401 711 542
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).
Level 9, 115 Pitt St, Sydney NSW 2000, Australia
T 1300 132 946 E [email protected]
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