HomeCo (ASX:HDN) set to invest in six properties

Company News

by Lauren Evans

HomeCo Daily Needs (ASX:HDN) has raised $88.3 million, and will use the funding to acquire six different properties. 

The property investment group is looking at a total of $222 million to buy all six properties, and will use debt funding to pay the rest of the acquisition.

Two shopping centres are a part of the acquisition, alongside a Dan Murphy’s store and fast food restaurants, located next to the shopping centre HDN acquired in April.

HomeCo went into a trading halt yesterday to launch the institutional placement to shareholders at $1.61 per share.

Shares in HomeCo Daily Needs REIT (ASX:HDN) are trading 3.3 per cent lower at $1.61. 

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