Highlights
- Acquisition of four quality established communities, expanding presence in Brisbane and key coastal markets
- Expansion of development pipeline with acquisition of DA approved 196 home development site on the NSW Mid-North Coast
- Fully underwritten Institutional Placement and Accelerated Non-Renounceable Entitlement Offer to raise $74 million at $2.60 per new security to fund acquisitions and first stages of development
- Extends Ingenia’s presence in attractive Brisbane market to four communities, complementing the Group’s leading position in Sydney
- Enhances rental flows through the addition of 739 income generating sites and increases Ingenia’s lifestyle portfolio to 36 communities
- On track to deliver on guidance of 190 new home sales and EBIT of $30 million in FY17
Ingenia Communities Group (ASX:INA) today announced an Institutional Placement (the Placement) and a 1 for 11 Accelerated Non-Renounceable pro-rata Entitlement Offer (the Entitlement Offer) to existing eligible securityholders.
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