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Centuria Office REIT - Successful Completion of Institutional Entitlement Offer


Centuria Property Funds Limited (CPFL), as Responsible Entity for the Centuria Office REIT (COF), is pleased to announce the following:
-- Successful completion of the institutional component of the fully underwritten 1-for-6.4 accelerated nonrenounceable entitlement offer (Institutional Entitlement Offer) announced on Monday, 6 September 2021.
-- The Institutional Entitlement Offer raised approximately $129 million, including Centuria Capital Group’s entitlement of approximately $25.5 million.
-- The retail component of the entitlement offer (Retail Entitlement Offer) will open on Monday, 13 September 2021 and is expected to raise $72 million, taking the total size of the entitlement offer to approximately $201 million (Equity Raising).
-- New units issued under the Equity Raising will be issued at a fixed price of $2.50 per unit (Issue Price) and rank equally with existing COF units from the date of issue including full entitlement to the distribution for the three months to 30 September 2021.

INSTITUTIONAL ENTITLEMENT OFFER

The Institutional Entitlement Offer was well supported by existing institutional unitholders with approximately 90% takeup by eligible institutional unitholders (excluding Centuria Capital Group’s entitlement). The shortfall under the Institutional Entitlement Offer also attracted demand from both existing and new unitholders. Approximately 51 million units will be issued under the Institutional Entitlement Offer at the Issue Price.

New units issued under the Institutional Entitlement Offer will settle on Wednesday, 15 September 2021, with allotment and normal trading on Thursday, 16 September 2021.

For more information, download the attached PDF.

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