Shaw and Partners is pleased to be appointed as Co-Lead Manager to an equity capital raising by Centuria Capital Group (ASX.CNI).

Centuria is undertaking a fully underwritten institutional placement of approximately 25.6 million new securities to raise $60 million. 

The offer price of $2.34 per new security represents a 2.9% discount to the last close price of $2.41 on 28 January 2020 and a 2.5% discount to the 5-day VWAP of $2.40 on 28 January 2020.

New securities issued under the offer will rank equally with existing CNI securities and will be entitled to the full distribution for the six months ending 30 June 2020.

CNI has entered into a bid implementation agreement that outlines a proposal to acquire Augusta Capital Limited, one of New Zealand’s largest listed real estate funds management companies, for NZ$180 million (A$174 million). 

CNI proposes to fund the transaction from a combination of existing cash reserves, debt, scrip, and proceeds of the placement.

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

For further information please contact your Shaw and Partners Adviser.