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Precinct raising $150M from an underwritten placement and retail offer

Precinct Properties New Zealand is raising $150 million with only $20 million available to retail shareholders and has paid for underwriting of both it and the $130 million placement to institutional investors.

The issue’s price will be determined by the institutional book-building auction but with a floor of $1.45 per share. Credit Suisse and affiliated firm FNZC are the lead managers and und

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