stock market graph investment
Source: Pixabay
  • Ultima United (UUL) announces capital raise for Q1 2021.
  • The share issue will be at $0.60 per share, with more than 33 million made available.
  • UUL opened this morning at $0.58.
  • UUL expresses interest in Japanese market with a letter of intent signed.

Perth property developer Ultima United announced its intention to capital raise by end of Q1 this year.

The company has three developments under the belt, one each in Bentley, Cannington and Como.

Expecting more than $20M in the raise, UUL said in a statement to the ASX, it was confident with the move:

“… the Board is pleased to announce that … several parties have expressed an interest in participating in the Share Issue.”

A number of the interested parties were noted as current shareholders and directors, whom total more than 36% of the expected raise amount.

The raise is still subject to a general meeting to be held in February.

In other news, The Market Herald reported on the last day of 2020, UUL announced its intentions to enter the Japanese market.

The ambitious move is on top of only three medium density developments in Perth, Market Herald’s Oliver Gray reporting entry into the Japanese market included significant projects totalling 34,000 square metres.

Mr Gray reported that a letter of intent was signed with Japanese company Infinity Capital Group Japan.

UUL shares opened this morning at $0.58.




You May Also Like

$500M residential development approved for former University of Melbourne site

The former University of Melbourne Hawthorn Campus is making way for 350 boutique apartments.

Westpac sees rates hitting 4.1 per cent and property prices falling further

Westpac said, “2023 will be another challenging year, particularly as the RBA continues to ratchet interest rates higher.”

Home loan hacks: four way to save money on your mortgage

With interest rates expected to keep rising, Compare Club has tips to ease the mortgage pain.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.