NZ’s Oceania raises $73 million in a single day as part of plan to expand portfolio in Auckland

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Oceania Healthcare has secured $73 million just one week after announcing it was seeking up to $91 million to expand its operations in Auckland.

It only took one day for the aged care and retirement village operator to accumulate the funds after institutional investors took up new shares that were 6.5% cheaper than the last closing price, Stuff reported.

The $91 million Equity Raise comprises an underwritten placement of approximately $73 million followed by a non-underwritten Retail Offer of up to $18 million

The money will be used to buy the Waterford on Hobsonville Point (pictured) retirement village in Auckland, which houses 64 independent living villas and 36 independent living apartments for $64 million, and a parcel of land in the Franklin district.

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