Centuria Industrial REIT (ASX:CIP) updated the market about the equity raising of Centuria Property Funds No.2 Limited (CPF2L) which is a responsible entity for CIP. CPF2L has made following activities.
- Non-underwritten Unit Purchase Plan to raise nearly $10 million
- Fully underwritten institutional placement to raise $130 million
Offered price will be decided through book build process.
Underwritten floor price signifies 8 per cent discount to the closing price of $2.76 per unit (as on 8 April 2020).
Rationale of placement: gearing shall reduce to 27.7 per cent, balance sheet will be strengthened with an undrawn facility of $190 million.