The GPT Group (GPT) is pleased to announce the successful completion of the institutional placement (Placement) to raise $325 million, as announced on 21 January 2015.
The Placement was conducted at a fixed price of $4.23 per security, which represents a 3 per cent discount to the GPT closing price on 21 January 2015.
Chief Financial Officer, Mark Fookes said, "We are very pleased with the strong level of support we received in the Placement from existing securityholders."
Approximately 76.8 million new securities will be issued under the Placement, which will rank equally with existing securities. Settlement of the Placement is expected to occur on 28 January 2015, with allotment and trading expected on 29 January 2015.
UBS AG, Australia Branch acted as Sole Lead Manager and Underwriter to the Placement.
Eligible securityholders will be offered the opportunity to subscribe for securities in GPT via a non-underwritten security purchase plan (SPP). Further details on the SPP will be lodged with the ASX and sent to eligible securityholders in due course.
Brett Ward
Head of Investor Relations
The GPT Group
Brett Zarb
Group Media Manager
The GPT Group
