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Stockland Corp Ltd Raises $400 Million Through Institutional Placement


Tuesday, 21 May 2013 07:37pm EDT 

Stockland Corp Ltd announced that it has raised $400 million through a fully underwritten placement to institutional investors of 103.1 million securities at $3.88 each. The Placement was over-subscribed with a high level of support from both domestic and offshore investors. The proceeds will also be used for the repayment of debt, reducing Stockland's balance sheet gearing by approximately 3%. New securities issued under the Placement will settle on 27 May 2013, with allotment to occur on May 28, 2013. New securities will rank equally with existing Stockland stapled securities and will be fully entitled to Stockland's distribution for the period ending June 30, 2013. The Placement was fully underwritten by UBS AG, Australia Branch. 

Company Quote

4.08
-0.03 -0.73%
21 Nov 2014