Home Consortium is pleased to announce the successful completion of the fully underwritten placement announced on Friday, 4 December 2020, raising approximately $125 million through the issue of approximately 32.9 million new stapled securities at an issue price of $3.80 per New Security, which represents a 2.6% discount to the last close price of $3.90 on Thursday, 3 December 2020.
The proceeds from the Placement will be used to fund the acquisitions and associated transaction costs of:
– six health, education and government services assets, increasing HomeCo’s exposure to health, wellness and government assets; and
– Gregory Hills Home Centre (NSW), increasing HomeCo’s exposure to the Western Sydney growth corridor.
HomeCo Executive Chairman & CEO, David Di Pilla, said “HomeCo has received strong demand from existing and new investors. The success of the Placement indicates an ongoing endorsement for our ‘own, develop and manage’ strategy. The acquisitions will further strengthen HomeCo’s funds management platform and accelerate the establishment of a new health, wellness & government focussed REIT”.
Read the full announcement here.