Mirvac successfully completes $750m placement

Company News

by Anna Napoli

Property Group, Mirvac (ASX:MGR) has successfully completed its A$750 million placement.

The capital raising which Is one of the largest so far this year, was strongly supported by both existing institutional investors and new investors.

Funds raised will be used to repay debt and fund Mirvac's commercial development pipeline that has an estimated end value of over $4 billion.

The successful raising comes on the back of news the company is expecting to deliver at the top end of its  FY19 EPS guidance range.

Shares in Mirvac (ASX:MGR) are trading 3.55 per cent lower at $2.99.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.