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Centuria Acquires 19% stake in New Zealands Augusta Capital

Today Centuria Capital Limited (ASX: CNI or Centuria) has agreed to acquire an initial 19% interest in Augusta Capital Limited (NZX: AUG or Augusta), New Zealand’s leading listed real estate funds manager, with an opportunity to increase its holdings to 24.99% through an Entitlement Offer Sub Underwriting.

Augusta is undertaking a NZD $45 million equity raising to strengthen its balance sheet and provide capital for new opportunities. The fundraising consists of a $12.4 million Placement and a $32.6 million Entitlement Offer. Centuria and Augusta have entered into a Commitment Letter. Following the Placement and institutional component of the Entitlement Offer, Centuria will acquire an initial 19% interest in Augusta on a fully diluted basis at $0.55 per share. Centuria will subscribe for 100% of its rights and partially sub underwrite the Entitlement Offer under a Sub Underwriting Agreement with Forsyth Barr Group Limited and Jarden Partners Limited. 

For more information, please refer to the attached PDF. 
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