This article is from the Australian Property Journal archive
Lend Lease has raised $434 million from institutional investors as part of its fully underwritten $806 million equity raising.
Lend Lease CEO Steve McCann said the high degree of take-up by existing institutional investors demonstrates the strong support for the group’s growth plans.
“Recent project wins, acquisitions and the capital raising significantly enhance the strategic position of the Group,” he added.
Eligible institutions took up 87% of their entitlements.
Lend Lease has launched the retail component. The offer will raise approximately $305 million and will be sold via a shortfall bookbuild.
Australian Property Journal
