Business
Here’s why the Home Consortium (ASX:HMC) share price is in a trading halt
The Home Consortium Ltd (ASX: HMC) share price isn’t going anywhere on Friday after it requested a trading halt.
Why is the Home Consortium share price in a trading halt?
The property company requested a trading halt this morning so it could undertake an equity raising to fund a number of new acquisitions.
According to the release, Home Consortium is aiming to raise a total of $125 million via a fully underwritten placement at an issue price of $3.80 per new share.
This represents a discount of just 2.6% to its last close price of $3.90.
What is Home Consortium acquiring?
The company has agreed terms to acquire a portfolio of 6 health, education, and Government services properties for a total initial investment of $62 million….
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