Capital raising addresses GPT balance sheet

06 May 2009

GPT Group, the Australian real estate investment trust, was on track to complete a A$1.2bn ($890m) capital raising on Friday after bankers reported an "encouraging" response to the deal.

GPT is selling A$1.1bn of new shares to existing institutional shareholders in a rights offer, as well as A$120m in a private placement open to new and existing investors.

It announced the deal on Thursday and is expected to close the books on Friday afternoon.

The one-for-one entitlement offer ...

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