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

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.