NZ's Vital Healthcare loses most in 6 mths on discounted share placement

Vital Healthcare Property Trust

08/10/2020 24:04

** Shares of Vital Healthcare Property Trust  VHP.NZ  fall
as much as 4.7% to NZ$2.84, their biggest intraday percentage
loss since April 1 
    ** Co on Wednesday said it intended to raise NZ$150 mln 
($98.66 mln) through a NZ$125 mln underwritten placement of new
units and a NZ$25 mln unit purchase plan  urn:newsml:reuters.com:*:nNZW7xTfQB
    ** The healthcare property investment fund said the
placement would be raised at fixed price of NZ$2.80 per unit, a
6.4% discount to stock's last close on Oct 6, when it last
traded 
    ** Co was placed on a trading halt on Wednesday while
undertaking the placement component of the capital raise
 urn:newsml:reuters.com:*:nNZW6HJnFn
    ** Stock hits lowest since Aug. 21 and is the biggest loser
on the benchmark S&P/NZX50 index  .NZ50 
    ** Stock up ~5.7% this year as of last close 

($1 = 1.5205 New Zealand dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))