AUS
NZ
UK
CA
USA
IND
In morning trade today Transurban Groupâs share price drifted lower despite announcing successful completion of institutional bookbuild.
This morning i.e. 5 September 2018, Transurban Group announced the completion of institutional component resulting in $3 billion fund raising as part of $4.2 billion fully underwritten accelerated pro rata renounceable 10 for 57 entitlement offer.
This comes after the previous announcement in which Transurban had declared their move to raise $4.2 billion of funds through an entitlement offer with the view to support the acquisition of 51% equity stakes in WestConnex motorway.
Toll road giant Transurban (ASX:TCL) has raised gross proceeds of approximately $3 billion through an Institutional Entitlement Offer which will result in the issue of new 278 million securities by Transurban at the offer price of $10.80 per security. These new securities are expected to be allotted by 13 September 2018, eligible for trading from the same day. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]
Furthermore, entitlements not taken up were sold at $11.80 per new security, reflecting a premium of $1 on the offer price of $10.80 per security. As per the reports this institutional shortfall bookbuild was greatly supported by eligible institutional security holders and new investors.
The company also notifies that retail component of the Entitlement offer will open on 7 September 2018 and will close on 18 September 2018. All eligible retail holders in Australia and New Zealand have been given the opportunity to participate in the offer at the same offer price and ratio as the Institutional Entitlement Offer.
At the time of writing, i.e. 5 September 2018 (2:26 PM AEST), Transurbanâs stock dropped by 2.902% to $11.710.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a companyâs prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkineâs team of analysts bought you handpicked report for âTop 25 Dividend Stocks For 2018.â
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
