AMP NZ Office Trust to raise $30M

Wednesday 15 December 2004

Listed property owner AMP NZ Office Trust (Anzo) today announced plans to raise about $30 million in a placement to local and offshore institutional investors.

By The Landlord

Anzo said the funds raised would be used "to pursue a range of potential investment opportunities within the New Zealand office market" while maintaining gearing ratio at about current levels and e nhancing unitholder returns, Anzo executive manager Rob Lang said in a statement.

The placement of 34.5 million units is equal to 6.5% of pre-placement units on issue including Mandatory Convertible Notes issued earlier this year.

The placement, underwritten by investment bank UBS, would consist of a bookbuild starting today at noon with a starting price of 87c per unit.

Anzo owns high profile office buildings, mainly in Auckland and Wellington, and has assets of approximately $766 million.

Read More - Opens in a new window
Commenting is closed

Property News

Covid-19 return could derail market boom

The housing market was booming in July with price and sales up nationwide, new REINZ data shows, but the return of Covid-19 raises questions of how the market will fare going forward.

House Prices

Is the market resurgence coming to an end?

Steady declines in value growth are becoming evident – as QV’s latest data reveals – and that suggests the housing market’s resurgence could be coming to an end.


Augusta Capital takeover bid now unconditional

ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.


Mortgage deferral programme to be extended

Reserve Bank governor Adrian Orr says the mortgage deferral programme will be extended beyond September, as the Covid-19 pandemic regains a grip on New Zealand.

Site by PHP Developer