Commercial real estate services company United Group has received overwhelming support for its acquisition of US based Equis Corporation.
Yesterday, United Group completed a placement raising $121 million from institutional investors.
The institutional placement consisted of a firm placement of $120.7 million and a placement of $4.3 million to Richard Leupen, United Group’s managing director, which is conditional on shareholder approval at the Annual General Meeting.
Leupen said the group was pleased with the ongoing support of existing shareholders and that a number of new domestic and overseas investors have become shareholders of United Group.
By Nelson Yap
