May 03 2019Add to Favorites
Dexus Funds Management Limited as responsible entity of Dexus (“Dexus” or the “Group”) confirms the successful completion of the institutional placement (“Placement”) announced to the Australian Securities Exchange (“ASX”) on 2 May 2019 to partly fund the acquisition of a 75% interest in 80 Collins Street, Melbourne.
Approximately 74 million new Dexus stapled Securities (“New Securities”) will be issued to institutional investors at a fixed price of $12.10 per New Security, representing a:
The New Securities are expected to settle on Tuesday, 7 May 2019, with allotment and trading expected to occur on Wednesday, 8 May 2019. From the date of issue, the New Securities will rank equally with existing Dexus stapled securities on issue and will be entitled to the full distribution for the six months ending 30 June 2019.
Dexus confirms that, pursuant to ASX Listing Rule 7.1, the Placement is within Dexus’s existing 15% placement capacity and does not require Security holder approval.
Darren Steinberg, Dexus CEO said: “We appreciate the strong support we have received from our existing investor base, while welcoming a number of new investors to our register. We look forward to delivering strong investment returns from this acquisition.”
Security purchase plan
As announced on 2 May 2019, Dexus will also undertake a non-underwritten Security Purchase Plan (“SPP”) to provide eligible Security holders in Australia and New Zealand with the opportunity to participate in the equity raising.
Further information on the SPP will be lodged with ASX and sent to eligible Security holders on or around Wednesday, 8 May 2019.
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