Vicinity Centres (ASX:VCX) completes $1.2b placement

Company News

by Rachael Jones

Vicinity Centres (ASX:VCX) has successfully completed a fully underwritten placement of fully paid new stapled securities to institutional and professional investors, at the offer price of $1.48 per New Security details of which were announced to ASX on 1 June 2020.

The Placement received strong support from existing securityholders and demand from potential new investors, raising $1.2 billion.

This equity raising will strengthen Vicinity’s balance sheet and provide Vicinity with flexibility to respond to the uncertainty caused by COVID-19 and the evolving retail landscape.

Shares in Vicinity Centres (ASX:VCX) shares are trading 2.6 per cent lower at $1.57.