charter hall shopping centre sign goulburn square
Image – Charter Hall Group.
  • Institutional component raised $169 mid-May
  • Retail component ended Wednesday this week
  • Raised $81M to make up the $250M required

Back in mid-May, The Property Tribune reported on the Charter Hall Long WALE REIT (ASX: CLW) acquisition of four government occupied properties.

To fund the acquisition, CLW was to raise $250 million through a fully underwritten 1-for-10.68 accelerated non-renounceable entitlement offer, at $4.65 per security.

CLW’s largest shareholder, Charter Hall Group, will commit to $29 million in equity-raising.

Charter Hall then successfully raised the first portion through an institutional placement for $169 million on 19 May, and opened the retail component on 24 May, closing Wednesday this week.

Today

Charter Hall Long WALE REIT today announced that the company had successfully completed the retail entitlement offer.

The raising effort brought in the desired and remaining $81 million.

“Eligible retail security holders took up approximately $51 million, representing a participation rate of approximately 63%. The remaining approximately $30 million will be allocated to various institutional investors who sub-underwrote the Retail Entitlement Offer.”

Charter Hall Long WALE REIT

The securities as part of the retail raise will be issued on Wednesday next week, trading to commence 10 June 2021.

More broadly

The Property Tribune recently reported on Australian Bureau of Statistics data that showed how the markets and super funds were investing.

Super funds saw a sizeable jump in land and building investments, up $7.3 billion, or 4%.

Public trusts likewise saw a rise in the same category, up $1.8 billion or 1.2%.

CLW opened at $4.83 today, and at lunch, is trading at $4.79.



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