Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Property For Industry in trading halt ahead of bookbuild ann

Property For Industry in trading halt ahead of bookbuild announcement

By Suze Metherell

Sept. 10 (BusinessDesk) - Property For Industry, the listed industrial landlord, has gone into a trading halt ahead of announcing the details of its bookbuild following its $49.5 million rights offer.

The Auckland-based property investor announced in August it would tap shareholders via a one-for-12 rights offer, at $1.44 per share and fully underwritten by Forsyth Barr. The company has secured $86 million in acquisitions and development activity, and will use the cash to fund that.

Property For Industry merged with Direct Property Fund to create an $800 million industrial property empire in 2013.

In August the company reported profit rose to $36.4 million in the six months ended June 30, from $14.4 million a year earlier. Operating revenue was little changed at $32.1 million, with the bulk of the bottom line gain coming from a $25.6 million fair value gain on investment properties.

The shares last traded at $1.515 and have gained 14 percent over the past year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Dairy NZ: ‘More Milk From Fewer Cows’ Trend Continues In A Record Year
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>

Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>