HGH meets Challenger Bank milestone & NZ$210m equity raise

Heartland announces indicative regulatory approval of Challenger Bank acquisition, and NZ$210m equity raise

Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to announce that it has received indicative regulatory approvals from the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New Zealand (RBNZ) for Heartland Bank Limited’s acquisition of Challenger Bank Limited from Challenger Limited (ASX: CGF).

Heartland also announces a NZ$210 million equity raise, comprising an NZ$105 million underwritten institutional placement (Placement) and a NZ$105 million underwritten 1 for 6.85 accelerated non-renounceable entitlement offer (Entitlement Offer).

APRA and RBNZ’s final regulatory approvals are conditional on the successful completion of the Placement and Entitlement Offer.

Included in this announcement is:

1. Offer Announcement

2. Offer Document

3. Investor Presentation

4. NZX Corporate Action Notice

5. Cleansing Notice

ENDS

•  Offer Announcement
•  Offer Document
•  Investor Presentation
•  NZX Corporate Action Notice
•  Cleansing Notice

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

KPG - Kiwi Property announces GM Corporate Services
Mainfreight Limited - Trading Conditions Update 2 May 2025
SIML - Change to Executive Team
BAI - Divestment of education group
May 2nd Morning Report
MMH - Marsden Maritime Holdings (MMH) releases Scheme Booklet
CVT - Comvita announces change to Board of Directors
TRU - Published Saudi Arabia Study Confirms TruScreen's Results
May 1st Morning Report
TruScreen Re-enters India Appinting New Distributor