Shopping Centres Australasia launches unit purchase plan

Company News

by Anna Napoli

Shopping Centres Australasia (ASX:SCP) has kicked off its unit purchase plan offer, eligible shareholders have the opportunity to apply from $5000 to $15 000  worth of new ordinary units in the company without incurring brokerage.

The real estate investment trust hopes to raise around $50 million via the offer which will go towards the company's acquisition of ten convenience based shopping centres for $573 million.

The acquisition represents a material and strategic acquisition for SCA and makes the company the largest convenience based shopping centre in Australia.

An institutional placement was successfully completed earlier this month, raising $262 million.

Shares in Shopping Centres Australasia (ASX:SCP) are trading 0.20 per cent lower to $2.52.

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.