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Centuria Capital to issue A$38M of securities

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Centuria Capital to issue A$38M of securities

Centuria Capital Group is set to raise A$38 million through the issuance of stapled securities.

The issue price is A$1.42 per security, which represents a 3.3% discount to Centuria Capital's 10-day volume weighted average price. The securities will be entitled to the full distribution of 4.1 Australian cents apiece for the half year ending Dec. 31.

The company said it will use proceeds from the issuance to support its unlisted property funds management business by providing deposit funding to secure ongoing acquisitions, among other things.

Moelis Australia Advisory Pty Ltd. acted as lead manager and book runner, while Shaw & Partners acted as co-lead manager.