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NZ’s Summerset Group confirms plans to list on ASX
May 07, 2013
The Summerset Group is New Zealand's second-largest listed retirement village operator, a sector which accounts for nearly eight percent of the NZX 50.
The company has confirmed plans to list on the ASX and place itself in front of an investor pool some 20 times larger than in its home market.
The company has enjoyed a 43 surge in stock value this year against the 37% increase of its rival Ryman Healthcare.
"As a result we have seen increased Australian investor interest in Summerset," said chairman Rob Campbell.
The company’s internal funding strategy has them ready to meet their target of building 300 retirement units a year by 2015. Consequently Summerset is not seeking to raise new capital though its Australian listing.
Ryman is also considering the ASX as demand for its services grow.
http://www.villages.com.au/info-centre/post/retirement-villages/nzs-summerset-group-confirms-plans-to-list-on-asx
