Centuria Capital set to launch capital raising News04 Oct 2017

Centuria Capital is set to launch a $60 million capital raising, as foreshadowed by Street Talk on Tuesday.

 

The deal has been structured as a 1-for-4.9 rights issue and priced at $1.28 a share, fund manager sources said.

 

Proceeds will be used for general corporate purposes, including further investment in the John McBain-led fund manager's other listed vehicles.

 

Moelis & Company and Shaw and Partners are running the deal.

 

Takeover target Propertylink last week flatly rejected a cash and scrip offer from Centuria Capital and Centuria Industrial REIT, which together control a 17 per cent stake.

 

Despite the rebuff, Centuria's chief executive John McBain is prepared for the long haul. "These things take time," McBain told The Australian Financial Review on September 26.

 

However, McBain has his work cut out for him.

 

As also revealed by this column, an international investor snapped up an 18 per cent stake in Propertylink on Tuesday night in a Citigroup-led after-market raid.

 

Read more: http://www.afr.com/street-talk/centuria-capital-set-to-launch-capital-raising-20171003-gytrx6#ixzz4ua35UI3c 

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