Charter Hall Long Wale REIT launches retail entitlement offer

Company News

by Anna Napoli

Charter Hall Long Wale REIT (ASX:CLW) has kicked off its retail entitlement offer, which it hopes will raise about $44 million.

Under the offer, eligible shareholders can purchase 1 new security for every 8.1 securities they hold.

It comes after the business successfully raised $81 million via its Institutional Entitlement Offer.

Proceeds from the equity raising will be used to partially fund the acquisition of a portfolio of 27 agri-logistics properties for a total of $207 million.

The properties will be 100 per cent leased to a subsidiary of Inghams Group, and, include hatcheries, feedmills and breeder farms.

Shares in Charter Hall Long Wale REIT (ASX:CLW) are 1.18 per cent higher to $4.30.