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Stockland (ASX:SGP) has raised $400 million via a fully underwritten institutional placement.
The property group says the placement was over-subscribed with support from both domestic and offshore investors.
Stockland Managing Director Mark Steinert says proceeds will fund the group’s $1.5 billion retail pipeline and will also help repay debt to reduce its balance sheet gearing by 3 per cent.
Mr Steinert says the capital will be used to fund its initiatives highlighted in the group’s strategic review such as the $116 million redevelopment of the Hervey Bay Shopping Centre in Queensland.
Under the strategic review, Stockland plans to grow its industrial property portfolio.
Stockland posted a net loss of $147.1 million for the first half of the current financial year.
News: Stockland raises $400M
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Last
$5.10 |
Change
-0.055(1.07%) |
Mkt cap ! $12.74B | |||
| Open | High | Low | Value | Volume |
| $5.17 | $5.18 | $5.08 | $7.758M | 1.515M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 40 | 31252 | $5.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.10 | 16179 | 19 |
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| Last trade - 14.00pm 20/11/2024 (20 minute delay) ? |
| SGP (ASX) Chart |
