Brief: Investore Property Announces Capital Raise Of Up To NZ$100 Mln

Investore Property

29/04/2020 24:45

April 29 (Reuters) - Investore Property Ltd  IPL.NZ :
    * COMMENCING CAPITAL RAISE OF UP TO NZ$100 MILLION
    * GUIDANCE OF 7.60 CPS CASH DIVIDEND FOR YEAR ENDED 31 MARCH
(FY20) UNCHANGED
    * CAPITAL RIASE CONSISTS OF NZ$85 MILLION UNDERWRITTEN
PLACEMENT &
 SHARE PURCHASE PLAN FOR UP TO NZ$15 MILLION
    * PRO FORMA LOAN TO VALUE RATIO ON COMPLETION OF OFFER
EXPECTED TO
REDUCE FROM 41.8% TO 30.9%
    * UNCHANGED GUIDANCE FOR FY DIVIDEND ASSUMES NO FURTHER
ECONOMIC
DETERIORATION FROM COVID-19

Source text for Eikon:  ID:nNZW411yl6 
Further company coverage:  IPL.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))