Macquarie-backed Oceania Healthcare will seek to raise up to about $250 million for its listing in Australia and New Zealand. <\/p>\n
The Kiwi aged care provider lodged a prospectus for its proposed dual listing on Friday morning, following rounds of meetings and analyst marketing to fund managers on both sides of the Tasman in recent weeks. <\/p>\n
Oceania will seek to raise up to $NZ273 million ($250million) via the sale of up to a 41.4 per cent stake in the company. <\/p>\n
The offer was priced at $NZ0.76 to $NZ1.04 a share, which implied a 5 per cent to 6 per cent dividend yield on 2018 financial year forecasts. <\/p>\n
If successful, Oceania would like with a $NZ471.5 million to $NZ570.6 million market capitalisation and an enterprise value of $NZ574.7 million to $NZ673.8 million. <\/p>\n
Existing owner Macquarie Infrastructure and Real Assets would not sell any shares as part of the listing. <\/p>\n
Oceania, which is New Zealand's third largest residential aged care provider, is expected back in front of Australian investors on Monday. <\/p>\n
It is seeking to list in the first week of May. Offer proceeds would be used to fund its development pipeline. <\/p>\n
Macquarie Capital is running the deal, while Deutsche Craigs andFirst NZ Capital are also joint lead managers. <\/p>\n
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Details out for Oceania Healthcare IPO - The Australian Financial Review<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Macquarie-backed Oceania Healthcare will seek to raise up to about $250 million for its listing in Australia and New Zealand. The Kiwi aged care provider lodged a prospectus for its proposed dual listing on Friday morning, following rounds of meetings and analyst marketing to fund managers on both sides of the Tasman in recent weeks. Oceania will seek to raise up to $NZ273 million ($250million) via the sale of up to a 41.4 per cent stake in the company Continue reading