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Charter Hall Group (ASX:CHC) (Charter Hall or the Group) today announces the successful completion of its fully underwritten $275 million Institutional Placement.
The Institutional Placement received strong demand from investors and was significantly oversubscribed. Approximately 50.2 million new ordinary securities will be issued to institutional investors at a fixed price of $5.48 per security, representing a discount of 3.4% to the closing price on 27 April 2017 of $5.67.
Securities to be issued under the Institutional Placement will settle on Wednesday, 3 May 2017, with the issue and quotation of the new securities expected to occur on Thursday, 4 May 2017. The new securities will rank equally with existing securities from issue and will be entitled to the full distribution for the six months to 30 June 2017.