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ING Shares On Offer
ING Real Living ING (NZ) Limited, ING Australia Holdings Limited and Symphony Investments RV Limited today announced that they are planning an initial public offering of shares in the ING Real Living group, which operates a retirement village business.
The business consists of two quality, established, retirement villages in the central Auckland suburbs of Remuera and Epsom. A further property in Remuera is also being considered for acquisition and development.
The offering will be up to $100 million of stapled shares, which will also provide additional capital for expansion.
It is expected that the IPO will be launched shortly, with listing of the shares on the New Zealand Stock Exchange expected to be sought. The lead manager for the offer is Forysth Barr.
No money is currently being sought and no applications for shares will be accepted or money received unless the subscriber has received an Investment Statement.
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