Aveo parent, FKP, has gone to the share market to raise an extra $324 million to repay debt. Stockland has been sitting on 14.9% of FKP for 12 months, waiting for an opportunity to take over their aveo business. FKP offered the new securities at $0.40 each, an amazing 47% discount to the market price on Friday of $0.76, to ensure it got the $324 million it needs. Stockland had to pay out $48 million to prevent its shareholding being diluted. Stockland also holds 14.9% of Aevum.
Government Policy
The three aged care bombshells from Senate Estimates
Last week’s Senate Estimates hearing – held just three weeks before sweeping reforms roll out – gave politicians the chance to ask Government heavyweights the questions they’re getting from constituents and to interrogate the once-in-a-generation changes.
