Transurban shows average daily traffic up 3.3%

Company News

by Rachael Jones

Road operator Transurban (ASX:TCL) released its September quarter 2018 update showing Average Daily Traffic increased by 3.3 per cent, with growth across all markets.

The report also showed during the quarter, as part of a consortium Transurban reached financial close to acquire 51 per cent of WestConnex from the NSW Government.

They successfully raised $4.8 billion of equity to fund the acquisition with $4.2 billion from a fully underwritten accelerated pro rata entitlement offer and a further $600 million of securities being placed to Transurban’s consortium partners.

Shares in Transurban (ASX:TCL) closed 0.09 per cent lower to $10.95 yesterday