Trading in Summerset was halted earlier today as the firm sold its stake but the halt has now been lifted and the company’s shares have been placed into a pre-open trading state, said NZX Regulation.
Quadrant disposed of 50m shares at a price of NZ$3.10 per share worth a total NZ$155m ($131.2m), bringing the total proceeds from the exit to nearly NZ$425m.
In May this year Quadrant sold a 14.2 per cent stake, leaving it with a 22.7 per cent interest.
Quadrant invested in Summerset as part of a secondary buyout in April 2009, committing AUD90.559m from its 2007 vintage Quadrant Private Equity No. 2 vehicle.
Also in May, Quadrant exited Australian fertility services provider Virtus Health via an IPO.
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