Retirement living group Ingenia Communities has completed a $73.66 million institutional placement and entitlement offer an issue price of 45¢ a security. The manufactured home estate owner and operator had planned to raise $45.3 million in an institutional placement and a further $43.8 million from retail investors. But institutional demand was strong so Ingenia scaled back the retail entitlement offer to $15.4 million, fully underwritten by joint lead managers Morgans Corporate Limited and Petra Capital.

Samantha Hutchinson