Brief: Investore Property Says Agreement Reached With Stride Property To Acquire Three Large Format Retail Assets

Investore Property

18/11/2019 20:42

Nov 19 (Reuters) - Investore Property Ltd  IPL.NZ :
    * AGREEMENT REACHED WITH STRIDE PROPERTY LIMITED TO ACQUIRE
THREE
LARGE FORMAT RETAIL ASSETS FOR NZ$140.75 MILLION
    * EXPECTS ACQUISITION, COMBINED WITH OFFER, WILL BE
ACCRETIVE TO
FY21 DISTRIBUTABLE PROFIT PER SHARE BY ABOUT 2.5%
    * COMMENCING CAPITAL RAISE OF UP TO NZ$80 MILLION,
COMPRISING
NZ$65 MILLION UNDERWRITTEN PLACEMENT & RETAIL OFFER FOR UP TO
N$15 MILLION
    * GUIDANCE OF 7.60 CPS CASH DIVIDEND FOR FY20 REMAINS
UNCHANGED

Source text for Eikon:  ID:nNZW3sZKhD 
Further company coverage:  IPL.NZ 

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