This Offer closed 5pm (NZT) Friday, 8th December 2017

Heartland Bank Limited (NZX:HBL) (Heartland) is seeking to raise up to approximately NZ$59 million of new equity from shareholders to support continued growth in its loan portfolio and maintain a strong balance sheet.

Key Details

• 1 for 15 pro rata rights issue
• Issue price of $1.70 per share, being a 10.1% discount to the closing price on 8 November 2017 and a 9.5% to the theoretical ex-rights price (TERP)
• Open to New Zealand and Australian shareholders as at 5pm on 17 November 2017, as well as institutional shareholders in Hong Kong, Singapore, the United Kingdom and Norway (no U.S. persons)
• Open from 23 November 2017 to 8 December 2017 (unless extended)
• Any rights not taken up will be sold under a shortfall bookbuild
• Shareholders who take up their rights in full may apply for additional new shares attributable to any rights not taken up
• The offer is not underwritten given size and intended use of proceeds for supporting continued strong asset growth in time
• Rights will not trade on the NZX Main Board

Please refer to the Offer BookletOpens in new window for further information. You can check the current price for Heartland shares at nzx.comOpens in new window

Important notice

This website does not constitute an offer, advertisement or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer, advertisement or invitation. This information does not purport to contain all the information an interested party may require, and does not constitute financial product advice, investment advice or any recommendation. Any interested party should conduct its own analysis and should not rely on the above without independent verification.