Precinct's share purchase plan oversubscribed, raises NZD40m

Precinct Properties Group (Precinct) announced that its non-underwritten share purchase plan (SPP), initially targeting NZD25m, closed oversubscribed. The company received valid applications totalling approximately NZD52m from shareholders. Due to strong support, Precinct accepted oversubscriptions, raising an additional NZD15m, bringing the total amount raised under the SPP to NZD40m.

The SPP saw participation from over 8,950 eligible shareholders, with an average application size of approximately NZD5,800. Shares will be issued at NZD1.2047 per new stapled share, representing a 2.5% discount to the five-day volume weighted average price of stapled shares traded on the NZX. Settlement, allotment, and commencement of trading for these new shares are expected on 4 November 2025.

This SPP was part of Precinct's broader equity raise, which included a fully underwritten NZD285m placement of new stapled shares to eligible investors across New Zealand, Australia, and other jurisdictions. The new shares issued under the SPP will rank equally with Precinct's existing stapled shares.