LJ Hooker reviewing capital management options

LJ Hooker reviewing capital management options
LJ Hooker reviewing capital management options

The real estate franchise business LJ Hooker is facing a December debt refinancing requirement, according to the Australian Financial Review's Street Talk column.

It comes after shelving plans for a $400 million float earlier this year.

The Street Talk column suggested the franchise business has around $60 million in obligations with a refinance due at the end of 2016.

A spokeswoman advised the company founded in 1928 by the legendary Sir Leslie Hooker was reviewing "a variety of capital management options to deliver its growth plans." 

It was in July last year that Janusz Hooker, the grandson of Sir Leslie, cemented his control of the business as a number of well-known shareholders sold out.

Among them were its former chairman Greg Paramor, former Leighton chief Wal King, developer and yachtsman Syd Fisher and RAMS founder, John Kinghorn.

In October, last year there was a pre-initial public offering cash call of around $20 million. 

There was also talk of a joint venture with Barry Plant.

Street Talk advised today there were whispers about Janusz Hooker and whether he will relocate to Singapore.

LJH advised Property Observer there were major factual issues with the story, including the claim that it owed any debt this year.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Debt Lj Hooker

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