Cromwell institutional entitlement offer raises almost $181m

Company News

by Rachael Jones

Cromwell Property Group (ASX:CMW) have successfully completed the institutional component of its 2 for 13 accelerated non-renounceable entitlement offer announced to the market on Wednesday 28 November 2018.

The institutional entitlement offer raised approximately $181 million.

This includes approximately $86 million worth of entitlements that were taken up by entities associated with ARA Asset Management and Gordon Tang.

The retail component of the entitlement offer is expected to raise up to approximately $119 million, taking the total size of the entitlement offer to approximately $300 million.

Cromwell Property Group (ASX:CMW) are down 2.52 per cent to $1.