Transurban completes institutional entitlement offer

Company News

by Anna Napoli

Toll road operator, Transurban (ASX:TCL) has today announced the successful completion of the institutional component of its $4.2 billion fully underwritten entitlement offer.

The offer raised gross proceeds of around $3 billion and will result in the issue of about 278 million new securities.

The company says the institutional shortfall bookbuild was well supported by eligible security holders.

Transurban has recently received FIRB approval to acquire a 51 per cent equity stake in WestConnex.

CEO, Scott Charlton says the acquisition of is a milestone for Transurban and consortium partners and has thanked invested for supporting the transaction.

Transurban (ASX:TCL) will resume trading today. Shares in the company last traded at $12.06.