By Laura Lutz
Des Moines, Aug. 24 - Valad Property Group completed a private placement for A$98.2 million.
The oversubscribed placement consisted of 67.7 million stapled securities at A$1.45 each, a 1.5% discount to the five-day volume weighted average price.
UBS AG, Australia Branch was the underwriter for the deal.
The proceeds will provide the company with balance sheet capacity to improve its transaction pipeline.
Sydney, Australia-based Valad combines a property trust and a funds management company.
| Issuer: | Valad Property Group
|
| Issue: | Stapled securities
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| Amount: | A$98.2 million
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| Securities: | 67.7 million
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| Price: | A$1.45
|
| Warrants: | No
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| Underwriter: | UBS AG, Australia Branch
|
| Settlement date: | Aug. 24
|
| Stock symbol: | Australia: VPG
|
| Stock price: | A$1.46 at close Aug. 24
|
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