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Australia's FKP Property says to raise A$324 mln

Wed Jun 24, 2009 8:58pm EDT

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SYDNEY, June 25 (Reuters) - Australian property firm FKP Property Group (FKP.AX) said it would raise A$324 million ($258 million) to strengthen its balance sheet and also kept its forecast for its fiscal year 2009 operating profit.

Under the offer, investors will be entitled to 2.3 new FKP securities for every 1 security at a price of $0.40.

The company also said its operating profit for fiscal year 2009 will come in the range of A$75-A$80 million. ($1=1.255 Australian Dollar) (Reporting by Eriko Amaha)



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