This article is from the Australian Property Journal archive
QUEENSLAND developer Devine Limited has successful completed its 3 for 4 non-renounceable rights issue, with a 90% take up.
The exercise raised $54.4 million, this is in addition to the previous $11.8 million. The total proceeds from these equity raisings of $66.3 million, will be used to fund the continued growth of Devine’s housing and land business.
Chairman Doug Ridley said he was very pleased with the strong level of support.
A total of 272.1 million new ordinary shares in Devine will be issued under the right issue.
Australian Property Journal
