Healthco Healthcare and Wellness REIT $650 Million IPO Underwritten
Home Consortium is pleased to announce the HealthCo Healthcare and Wellness REIT (‘HealthCo’) was fully underwritten for an amount of $650m over the weekend by a Syndicate of Underwriters. The HealthCo Product Disclosure Statement has been lodged with ASIC, and HealthCo is expected to commence trading on 6 September 2021 on the Australian Stock Exchange with the ASX.HCW ticker. HealthCo is well positioned for growth with a net cash position and over $300m of investment capacity for accretive acquisitions and developments.
Home Consortium Managing Director and CEO, David Di Pilla, commented: “We are delighted with the strong level of investor support for HealthCo Healthcare and Wellness REIT with the raising strongly oversubscribed. The proposed ASX listing of HealthCo Healthcare and Wellness REIT in early September marks another significant milestone for our organisation and builds on the success of HomeCo (ASX: HMC) and HomeCo Daily Needs REIT (ASX: HDN) which have both outperformed the S&P/ASX 300 A-REIT index since listing. HomeCo is now well positioned to accelerate its growth and scale its capital light funds management model.”
The Chair of HealthCo Healthcare and Wellness REIT, Joseph Carrozzi AM commented: “On behalf of my fellow directors we are pleased to be joining the Board and are extremely enthusiastic around the future prospects for the HealthCo Healthcare and Wellness REIT. The HealthCo Healthcare and Wellness REIT is uniquely positioned to provide exposure to a diversified portfolio of assets underpinned by attractive healthcare sector megatrends. We will aim to deliver stable and growing distributions, long-term capital growth and positive environmental and social impact.”