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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
$5.12 |
Change
-0.030(0.58%) |
Mkt cap ! $12.74B | |||
| Open | High | Low | Value | Volume |
| $5.17 | $5.18 | $5.12 | $3.793M | 738.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 22783 | $5.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.12 | 29029 | 49 |
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| Last trade - 11.59am 20/11/2024 (20 minute delay) ? |
| SGP (ASX) Chart |
