CROMWELL Property Group has completed an institutional placement raising approximately $28 million at $0.68 per stapled security.
Cromwell issued 40,591,780 new securities which will rank for, and be entitled to, distributions for the December quarter pro rata to the number of days they are on issue.
Funds raised from the placement will be used by Cromwell to buy an office building in the Ipswich CBD for $93 million from Leighton Properties.
Australian Property Journal
