Highlights

  • Vital completes USD190m placement as part of its USD220m capital raising initiative.
  • Placement priced at NZD1.95 per unit, reflecting a 9.5 percent discount to prior close.
  • Unit purchase plan scheduled to open on 14 November 2025 for eligible retail investors.

Vital Healthcare Property Trust (NZX:VHP) has announced the completion of a USD190m placement of new units to a mix of new and existing unit holders. The placement forms the principal component of the USD220m capital raising initiative disclosed on 10 November 2025, intended to support Vital’s transition to an internalised management structure. The remaining USD30m is expected to be raised through a unit purchase plan (UPP) open to eligible retail investors in New Zealand.

The placement was fully subscribed at a fixed issue price of NZD1.95 per unit. This price reflects a 9.5 percent discount to Vital’s ex-dividend closing price of NZD2.156 recorded on 7 November 2025. Existing unit holders who elected to participate were granted priority to secure allocations aligned with their proportional holdings.

Pricing and Allocation Details

The issue price and the allocation model were structured to provide clarity for both institutional and existing retail participants. The discount to the preceding market price positioned the placement within typical parameters for capital transactions of this nature on the NZX.

Settlement and allotment of the new units under the placement are anticipated to take place on 14 November 2025, subject to standard processing requirements. The placement was underwritten by Craigs Investment Partners Limited, Forsyth Barr Group Limited and Barrenjoey Markets Pty Limited, which each served as joint underwriters.

Unit Purchase Plan to Open Shortly

Alongside the placement, Vital will conduct a non-underwritten USD30m UPP as previously disclosed. The UPP allows the Manager discretion to accept oversubscriptions. Full details of the UPP will be outlined in the UPP Offer Document, scheduled for release to the NZX on 14 November 2025. The UPP forms the supplementary component of the capital raising framework and is designed to provide broader investor participation in the internalisation funding structure.

Share Performance of VHP

VHP was trading at NZD 2.010 per share as of 11 November 2025 at the time of writing.