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Leighton Holdings Ltd (ASX:LEI) has announced that it has raised $514 million from the institutional component of a capital raising.
At the beginning of this week the property developer launched a $757 million capital raising after slashing its full year guidance by more than $900 million.
Shares were sold at an offer price of $22.50 and institutions took up over 90 per cent of their entitlements.
Leighton’s largest shareholder, German construction company Hochtief, took up its full entitlement.
The retail entitlement offer is expected to raise $243 million and will open on 19 April and close on 6 May, 2011.
In the six months to 31 December 2010, Leighton Holdings generated a net profit of $218 million.
