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.
Construction restarts at Uniting Yamba on NSW’s Far North Coast with new builder appointed
The Not For Profit has appointed Stephen Edwards Construction to complete the 50 remaining independent living apartments. Work came to a halt in June last year when GCB Constructions went into administration. The 50 apartments at Uniting Yamb...