Strong demand for priority pool

Strong demand for priority pool

The $5 million priority pool Offer of the Arvida Group Limited’s $80 million Initial Public Offer (IPO) has closed fully subscribed with strong support from residents, staff and existing village investors.

Welcoming the new shareholders from amongst Arvida’s 1,800 residents and 1,000 staff across its 17 retirement villages and aged care facilities, Chairman Peter Wilson says their support is a further endorsement of the new group’s strategy to be a leader in the provision of retirement village and aged care facilities.

“We are delighted residents, staff and existing facility investors have taken the opportunity to invest or invest further in Arvida. Investors through the priority pool will join with the 18 institutional investors and a broad range of retail clients of participating NZX firms who earlier subscribed for shares through the bookbuild process as part of the IPO.”

“Arvida will have an extensive shareholder base balanced between the interests of institutional investors, retail investors, facility investors, residents and staff when its shares begin trading on the NZX Main Board on 18 December 2014.”

The retail offer remains open and will close at 5pm on 15 December 2014. A copy of the prospectus and the investment statement both dated 17 November 2014 is available at www.arvida.co.nz.

None of the persons mentioned above guarantees the shares offered. Arvida has applied to NZX Limited for permission to quote Arvida’s ordinary shares on the NZX Main Board. Quotation is subject to approval by NZX and NZX accepts no responsibility for any statement made in this announcement.

The NZX Main Board is a licensed market operated by NZX Limited which is a licensed market operator regulated under the Financial Markets Conduct Act 2013.

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