Bain Capital exits Tower Limited with full share allocation
Tower Limited (NZX: TWR) announced that Bain Capital has completed the allocation of its entire shareholding of 68,306,802 shares, previously held by Dent Issuer Designated Activity Company. The allocation to investors follows a block trade agreement on March 31, 2025, with Forsyth Barr Limited and Goldman Sachs New Zealand Limited acting as Joint Lead Managers. Under the agreement, purchasers were procured for the shares at a fixed price of NZ$1.30 per share, totaling NZ$88,798,842.60. The transaction resulted in Bain Capital ceasing to have a substantial holding in Tower, with settlement occurring on April 3, 2025. Consequently, Tower requested the lifting of its trading halt on both the NZX and ASX, effective from the open of trading on April 1, 2025. Prior to this allocation, Bain Capital Credit LP (BCC) and Bain Capital Investments (Europe) Limited (BCIE), together with Dent, held a combined 19.941% of Tower's ordinary shares.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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