Metlifecare raises $37.8m

Retirement village operator Metlifecare has raised the $37.8 million expected through the issue of 35 million ordinary shares to pay debt.

Metlifecare, which posted a $61.9 million interim loss, said the shares represented 40 per cent of the ordinary shares already on issue.

The rights issue closed oversubscribed by 0.5 per cent, chairman Jim McClay said.