June 18, 2017 / 8:51 PM / 5 months ago

BRIEF-Kiwi Property announces capital raising

June 19 (Reuters) - Kiwi Property Group Ltd

* Is raising about NZ$161 million of new equity

* Intended that net proceeds of offer will initially be used to pay down bank debt and reduce gearing

* Under offer, eligible Kiwi Property shareholders will be entitled to acquire 1 new share for every 11 existing shares held on on 21 June 2017

* Is launching a fully underwritten pro rata entitlement offer (offer) at an issue price of nz$1.36 per new share

* Kiwi Property’s dividend reinvestment plan (drp) has been suspended in respect of final dividend for six months ended 31 March 2017 Source text for Eikon: Further company coverage:

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