Property company Cromwell Property Group
(ASX:CMW) says it’s raised $36 million under the Shortfall Facility of its one for six entitlement offer.
The funds will be used to reduce debt, and also provide additional working capital.
Chief executive Paul Weightman says he’s pleased with the local and offshore support the company’s received and takes it as a positive endorsement of recent acquisitions, particularly the Bundall Corporate Centre late last year.
Cromwell Group reported a net profit of $88 million in the 2011 financial year.
