Firms: Gadens (Ingenia Communities); Clifford Chance (Moelis Australia Advisory Pty Ltd, Morgans Corporate Limited and Petra Capital Pty Ltd)
Deal: Ingenia Communities $60 milion capital raising through an institutional placement.
Value: $60 million
Area: Capital raising
Key players: The Gadens team was led by corporate partner Paul Brown (pictured), supported by senior associate Michael Jools and solicitor Nikolas Miljkovic.
Deal significance: Ingenia Communities successfully raised $60 million capital through an institutional placement which concluded on 14 June 2016.
Moelis Australia Advisory Pty Ltd, Morgans Corporate Limited and Petra Capital Pty Ltd acted as the joint lead managers.
The capital raising was significantly oversubscribed with strong demand from both domestic and offshore investors, according to a release from Gadens.
The proceeds from the capital raising will fund the expansion of Ingenia Communities’ manufactured home estates business through four acquisitions announced as part of the placement.
Ingenia Communities will also undertake a non-underwritten security purchase plan at the same price as the placement.