Growthpoint Properties to raise $52 million

Company News

by Kathy Skantzos

Real estate investment trust Growthpoint Properties Australia (ASX:GOZ) aims to raise $52 million through a Distribution Reinvestment Plan through its major security holder Growthpoint Properties Limited.

The distribution is expected to be paid out by 28 February 2018.

The shares will be issued at the price of $3.29 per security, a 2 per cent discount on the 10-day volume weighted market price of $3.36 from 3 January 2018.

Approximately 15.9 million new securities are expected to be issued under the plan.

The REIT has a total property portfolio value of $3.2 billion over 57 properties nationwide.

Shares in Growthpoint Properties Australia (ASX:GOZ) closed flat yesterday at $3.26.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.