Nicheliving Holdings Ltd (ASX:NLH) (‘Nicheliving’ or the ‘Company’) advises that it has lodged a prospectus (the ‘Prospectus’) with the Australian Securities and Investments Commission inviting investors to subscribe to new shares under an initial public offer of Nicheliving shares (‘Shares’).
Nicheliving is seeking to issue 24,000,000 Shares at a price of $0.50 per Share to raise up to $12,000,000 (the ‘Offer’).
CPS Capital Group Pty Ltd has been appointed as lead manager for the offer, with Steinepreis Paganin acting as legal advisors.
Founded by Executive Chairman Paul Bitdorf and Managing Director Ronnie Michel-Elhaj in 2002, Nicheliving is a Western Australian residential property company with a vertically integrated business model that offers a comprehensive range of services across land development, construction, financial services, real estate sales, property management and project marketing.
The Company has a residential property development portfolio valued at more than $400 million with eight (8) active projects and a further four (4) projects in the approval phase. Nicheliving specialises in managing residential developments which offer affordable housing options within various infill locations throughout the Perth metropolitan area, including Willetton, Canning Vale and Madeley. It has established itself as a well-recognised brand within Perth’s affordable residential development space over a period of 15 years.
Upon successful completion of the Offer, Nicheliving will seek to list on the Australian Securities Exchange (ASX) and utilise the funds raised to finance the next stage of its growth strategy, which includes the identification, acquisition and development of new infill locations in Perth.
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