Business
Why the Oceania (ASX:OCA) share price is frozen
The Oceania Healthcare Ltd (ASX: OCA) share price won’t be going anywhere today after the company’s shares were placed in a trading halt. This comes after Oceania unveiled plans for its latest capital raise.
Why is the Oceania share price in a trading halt?
Oceania today announced plans to raise ~NZ$100 million to fund its latest acquisition plans. The company will seek to raise NZ$80 million via a fully underwritten placement and a NZ$20 million non-underwritten retail offer. Oceaniea will have the ability to accept oversubscriptions at its discretion.
The funds will be used in the acquisition of a premium retirement village, Waterford on Hobsonville Point, in Auckland, New Zealand. Oceania is also planning to use the money…
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