The Australian Education Trust has closed its Public Offer raising $40 million.
The trust had originally sought to raise $30 million, however demand meant the trust accepted subscriptions for a further 6.25 million units.
The Offer pursuant to a Product Disclosure Statement, closed on October 11, 2006 and as a result 25 million new units will be issued raising $40 million in new capital with the funds raised to be used to acquire additional childcare centre properties.
Application is being made to the ASX to enable the new units to commence trading on the ASX from October 23, 2006.
Joint Lead Managers to the issue were Austock Corporate Finance Limited and ABN AMRO Morgans Limited.
By Kathryn O’Meara
