Ingenia Communities Group (ASX:INA) has raised more than $73 million in a share placement with strong demand from investors.
The aged care accommodation provider says funds raised will be used to acquire additional properties to expand its Lifestyle Parks portfolio.
The entitlement offer comprised a placement of 100.7 million new shares and an institutional component of 63 million new shares at $0.45 per share.
The company says a $15.4 million retail offer is now fully underwritten and will be put towards ongoing expansion of the Lifestyle Parks business.
Ingenia reported a net profit of $11.5 million in the 2014 financial year.
