Oxley Holdings announced on Jan 7 that it has received an investment of some US$80 million ($106.4 million) by funds managed by Dignari Capital Partners, an investment management firm based in Hong Kong.
The investment will be made through a convertible note issuance.
The notes have an aggregate principal amount of up to US$80 million and will bear a coupon interest of 4.5% per annum.
The notes will mature in 24 months with an option to extend by another 12 months.
The notes can be converted into shares at an estimated 15% premium to the volume weighted average price (VWAP) 10 trading days before the date of the agreement.
Commenting on the investment, Ching Chiat Kwong, executive chairman and CEO of Oxley says, “I am pleased to welcome DCP into the Oxley family. We look forward to a fulfilling partnership together where we hope to leverage on DCP’s expertise and full support to accelerate the growth of the company.”
“I am confident that DCP Funds' investment will position the company for our next phase of growth, where we launch into our key overseas projects. We are excited for the development of the Connolly Station, Dublin (which has an estimated GDV of $1 billion), Deanston Wharf, London (which has an estimated GDV of $647 million), and Walker Street, Sydney (which has an estimated GDV of $446 million),” Ching adds.
As at 9.07am, shares in Oxley are trading 0.5 cent higher or 2.3% up at 22.5 cents.
