Ingenia Communities joins raising rush

Retirement living provider Ingenia is raising $175m through Goldman Sachs, Citi and Moelis.

Funds raised will be used to grow the company’s asset base, Ingenia said.

The company will raise $150m through a placement and $25m through a security purchase plan.

Of the placement, $135m is underwritten.

Shares are being sold at $3.45 each, a 6.5 per cent discount to their last closing price of $3.69.

The raise represents 18.5 per cent of Ingenia shares on issue.