Transurban Group Successfully Completed Its Entitlement Offer

  • Sep 21, 2018 AEST
  • Team Kalkine
Transurban Group Successfully Completed Its Entitlement Offer

Transurban Group (ASX: TCL) is in the business of developing, operating, managing, maintaining and financing urban toll road networks.

On 21 September 2018, Transurban Group initially witnessed a decline of 0.18% in its share price despite successfully completing its retail entitlement offer of 31 August 2018. The Retail Entitlement Offer has raised approximately $1,222 million from issue of approximately 113.2 million new securities at issue price of $10.80 per new security. Under Retail bookbuild, approximately 36.7 million new securities were offered for sale. In the Retail bookbuild, these securities were sold at a price of $11.00 per security which includes $10.80 issue price and $.20 premium. The ineligible retail security holders and those security holders who elected not to take up their entitlement will be receiving $0.20 retail premium for each new security not taken up under the entitlement offer on 28 September 2018. The settlement date for new securities is 25 September followed by the allotment on 26 September 2018. The trading on ASX will be started on 27 September 2018.   

For the year ending 30 June 2018, the company earned a revenue of $3,298 million which was $2,327 a year ago. Proportional EBITDA for FY2018 is $1,775 million which has increased from $1,629 million from previous year. Statutory EBITDA is $1,649 million in FY2018 which was $1,526 million a year ago. Net profit for the year increased from $209 million in FY2017 to $468 million in FY2018. The company paid a distribution of 28.0 cents per stapled security for six months ended 30 June 2018. The payments were made on 10 August 2018. Company is undertaking major development projects to create more efficient transport routes and ease congestion. Company is upgrading its number of asset and creating additional capacity. The company is running a series of trials on motorways in Melbourne, Sydney and GWA to investigate the responses of autonomous vehicle to road infrastructure such as lines, signs, signals and ramps.

TCL’s share traded at $11.195 (up 0.58%) with a market capitalization of $28.64 billion as on 21 September 2018 (AEST 3:36 PM).

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