SCA Property Group raises $262.4 million

Company News

by Rachael Jones

SCA Property Group (ASX:SCP), a major landlord of the Woolworths Group, has successfully completed the fully underwritten institutional placement announced yesterday raising $262.4 million through the issue of approximately 113.1 million new fully paid ordinary units.

The proceeds will be partly fund the acquisition of 10 shopping centres from Vicinity for $573 million.

Eligible unitholders who were registered as SCP unitholders as at 7.00pm on Tuesday 2 October 2018 will be invited to subscribe for up to $15,000 of additional New Units, free of brokerage and transaction costs.

Shares in SCA Property Group (ASX:SCP) are down 1.05 per cent to $2.35