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.

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.