Arvida Group Limited (NZX:ARV) is pleased to announce that it has successfully completed the shortfall bookbuild component of its 1 for 5.7 pro rata renounceable rights offer (the ‘Rights Offer’).

The clearing price under the shortfall bookbuild was $1.35 per new share, a premium of $0.20 per new share over the application price of $1.15 under the Rights Offer. Therefore, eligible shareholders who elected not to take up their full entitlements, or rights attributable to Ineligible Shareholders, will receive $0.20 for each new share not taken up by them.

The new shares are expected to be allotted and commence trading on 22 July 2019.

The Rights Offer raised a total of approximately $92 million and was fully underwritten by Forsyth Barr Group Limited and Jarden Partners Limited.

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