Australia's Home Consortium is issuing 97 million securities priced at A$3.35 apiece to raise about A$325 million.
The IPO comprises an institutional offer and a retail offer. The retail offer consists of a broker firm offer, which is open to Australian and New Zealand clients and a priority offer, which is open to select investors and capped at A$20 million.
The offers will open Oct. 1 and close Oct. 9, with the securities to commence trading on the Australian Securities Exchange on or about Oct. 14 on a conditional and deferred settlement basis. The securities are expected to commence trading on the bourse on a normal settlement basis on or about Oct. 18, according to the IPO prospectus.
Together with funds from the issue of convertible notes and debt facility drawdown, proceeds from the IPO will be used to refinance existing debt facilities, for leasehold acquisitions and as working capital, among other purposes.
Credit Suisse (Australia) Ltd., J.P. Morgan Securities Australia Ltd. and Goldman Sachs Australia Pty. Ltd. are joint lead managers for the offering.
E.L. & C. Baillieu Ltd., Bell Potter Securities Ltd., Crestone Wealth Management Ltd., Morgans Financial Ltd., National Australia Bank Ltd. and Ord Minnett Ltd. are acting as co-managers.
Home Consortium is focused on ownership, development and management of real estate assets.