Scoop has an Ethical Paywall
Property For Industry in trading halt ahead of bookbuild ann
Property For Industry in trading halt ahead of bookbuild announcement
By Suze Metherell
Sept. 10
(BusinessDesk) - Property For Industry, the listed
industrial landlord, has gone into a trading halt ahead of
announcing the details of its bookbuild following its $49.5
million rights offer.
The Auckland-based property
investor announced in August it would tap shareholders via a
one-for-12 rights offer, at $1.44 per share and fully
underwritten by Forsyth Barr. The company has secured $86
million in acquisitions and development activity, and will
use the cash to fund that.
Property For Industry
merged with Direct Property Fund to create an $800 million
industrial property empire in 2013.
In August the company reported profit rose to $36.4 million in the six months ended June 30, from $14.4 million a year earlier. Operating revenue was little changed at $32.1 million, with the bulk of the bottom line gain coming from a $25.6 million fair value gain on investment properties.
The shares last
traded at $1.515 and have gained 14 percent over the past
year.
(BusinessDesk)
Canterbury Museum: Dinosaur Dolphins Survived In New Zealand Long After Extinction Elsewhere
Retail NZ: Retailers Still Under Pressure At End Of 2024 
University of Canterbury: Research Sheds Light On Fire Risk For Canterbury
GE Free NZ: Potential $20 Billion Loss In Export Demand Threatens Rural Communities
Science Media Centre: Carbon-storing Construction Materials – Expert Reaction
Vegetables New Zealand: New Web-Based Tool Will Help Greenhouse Growers Switch To Geothermal Heating
