Aged care facility operator, Ryman Healthcare’s recent NZ$902 million ($571.69 million) fully underwritten pro-rata accelerated institutional tradeable retail entitlement offer (Paitreo), marked the company’s first capital raise since its IPO in 1999. The transaction closed on February 17, 2023, constituting the third-largest equity raise on the New Zealand stock exchange’s (NZX) secondary market to date. Its success enabled the corporate to repay outstanding debt facilities and reset its capital structure.
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