Centuria Capital Group (ASX: CNI) is undertaking a fully underwritten institutional placement of approximately 47.6 million new securities to raise approximately $100 million (“Placement” or “Offer”).

In addition, CNI will offer eligible existing shareholders the ability to participate in a non-underwritten Share Purchase Plan (SPP).

New Securities issued under the Offer will rank equally with existing CNI securities.

The offer price of $2.10 per new security represents a 3.7% discount to the last close price of $2.18 on 17 September 2019 and a 3.9% discount to the 5 day VWAP of $2.19 on 17 September 2019.

Centuria Capital Group, as the largest unit holder in Centuria Metropolitan REIT (ASX: CMA), is undertaking the equity raising to provide support to CMA’s proposed acquisition of two A-grade office properties in fringe CBD locations in Sydney and Perth (Acquisition) for a total purchase price of $380.5m. CMA proposes to fund the Acquisition from debt and a $273m equity raising.

The offer is available to Australian resident Sophisticated and Professional Investor clients only.

For more information please contact your Shaw and Partners Adviser.