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
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.