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Mirvac Group (ASX:MGR) shares have been placed in a trading halt ahead of an announcement to the market regarding a property purchase and capital raising.
The property developer requested the halt on news it had entered into agreements to acquire a portfolio of office assets from GE Real Estate Investments Australia.
The acquisition will be largely funded by a fully underwritten $400 million institutional placement.
Mirvac says the placement would be able to maintain its gearing at the midpoint of its revised target range of 20-30 per cent, as well as preserving its funding capacity for future growth opportunities.
It comes just a day after chief executive officer Susan Lloyd-Hurwitz reaffirmed its earnings per share guidance, saying the company regularly evaluates M&A opportunities including acquisitions of asset portfolios.
Mirvac generated a net profit of $55.2 million for the first half of the current financial year.
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Last
$2.11 |
Change
0.000(0.00%) |
Mkt cap ! $8.996B | |||
| Open | High | Low | Value | Volume |
| $2.13 | $2.14 | $2.11 | $14.78M | 6.980M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 64140 | $2.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.12 | 67690 | 6 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| MGR (ASX) Chart |
