This article is from the Australian Property Journal archive
CHARTER Hall has completed its retail entitlement offer raising approximately $50 million.
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This represents approximately $31 million from retail investors participation (rate of 62%) and $19 million by the Gandel Group as sub-underwriters of the offer.
Combined with the institutional offer, CHC has raised approximately $171 million.
The shortfall in the number of securities applied for by retail securityholders was 28,510,207 securities.
Under the sub-underwriting arrangement with Gandel, the entire retail shortfall plus 31,865 securities in respect of ineligible foreign retail securityholders, will be issued to Gandel.
This will increase Gandel’s interest in Charter Hall to 16.1%.
Australian Property Journal