April 28, 2020 / 11:49 PM / a month ago

BRIEF-Investore Property Announces Capital Raise Of Up To NZ$100 Mln

April 29 (Reuters) - Investore Property Ltd:

* COMMENCING CAPITAL RAISE OF UP TO NZ$100 MILLION

* GUIDANCE OF 7.60 CPS CASH DIVIDEND FOR YEAR ENDED 31 MARCH (FY20) UNCHANGED

* CAPITAL RIASE CONSISTS OF NZ$85 MILLION UNDERWRITTEN PLACEMENT & SHARE PURCHASE PLAN FOR UP TO NZ$15 MILLION

* PRO FORMA LOAN TO VALUE RATIO ON COMPLETION OF OFFER EXPECTED TO REDUCE FROM 41.8% TO 30.9%

* UNCHANGED GUIDANCE FOR FY DIVIDEND ASSUMES NO FURTHER ECONOMIC DETERIORATION FROM COVID-19 Source text for Eikon: Further company coverage:

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