Sydney—Dentons has advised Ingenia Communities on its successful AU$74m capital raising comprising an institutional placement and accelerated non-renounceable entitlement offer announced on 3 May 2017. The institutional components of the capital raising were significantly oversubscribed with strong demand from both domestic and offshore investors.

The proceeds from the capital raising will fund the expansion of Ingenia Communities’ lifestyle and holiday communities business through five acquisitions announced as part of the capital raising.

The capital raising was fully underwritten by Morgans Corporate, Moelis Australia and Petra Capital (advised by Clifford Chance).

Simon Owen, the CEO of Ingenia Communities said, “We have partnered with Dentons for a number of years. Their understanding of our business and the seniors living sector. make Dentons a key advisor. They provide timely and commercial advice on our corporate matters and equity and debt structuring and are a valued business partner.”

Dentons partner, Paul Brown said, “We were very pleased to advise Ingenia Communities on another significant capital raising. Dentons has been assisting Ingenia Communities with their expansion advising on five capital raisings ranging from institutional placements, accelerated entitlement offers, security purchase plans and distribution reinvestment plans. Ingenia Communities are an outstanding operator and we are very pleased to have the opportunity to work with them as they continue to expand.”

The Ingenia Communities legal team was led by Dentons’ partner Paul Brown, senior associate Jane Kuo and solicitor Samantha Walker.