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.
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Funding secured for Wesley Mission’s affordable and supported housing project in Canberra
Wesley Mission’s affordable rental and supported housing development in Curtin, Canberra, is officially going ahead after securing funding through the first round of the Australian Government’s $10 billion Housing Australia Future Fund (HAFF)...