Lend Lease raises $434m, more to come
March 1, 2010
Lend Lease Group (LLC) said it has successfully raised $434 million from the institutional component of its fully underwritten equity raising announced last Thursday. Existing shareholders subscribed for over 87% of their entitlements available under the Institutional Entitlement Offer.
The second part of the equity raising, for retail investors, will open on Wednesday, March 3 and close at 5pm (AEDT) on Wednesday, March 24, the property group said.
The second part is intended to raise $305 million, with a total equity raising intended to be around $806 million.
At 1058 AEDT, Lend Lease shares were around 18c, or 1.9% higher to $9.52.
The second part of the equity raising, for retail investors, will open on Wednesday, March 3 and close at 5pm (AEDT) on Wednesday, March 24, the property group said.
The second part is intended to raise $305 million, with a total equity raising intended to be around $806 million.
At 1058 AEDT, Lend Lease shares were around 18c, or 1.9% higher to $9.52.
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