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Placement
Charter Hall Retail Management Limited, as responsible entity of Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) has successfully completed the fully underwritten institutional placement announced on 1 April 2019 (Placement), raising $150 million though the issue of approximately 33.3 million new units (New Units) at an issue price of $4.51 per unit.
The New Units will settle on Thursday, 4 April 2019, with allotment and normal trading to occur on Friday, 5 April 2019. New Units issued under the Placement will rank equally with existing CQR Units and will be entitled to the full distribution for the half year ending 30 June 2019.
CQR confirms that, pursuant to ASX listing rule 7.1, the Placement is within CQR's placement capacity of 15% and unitholder approval is not required.
Unit Purchase Plan
CQR is also undertaking a non-underwritten Unit Purchase Plan (UPP), which is expected to raise up to $10 million1. Under the UPP, eligible unitholders in Australia and New Zealand will be invited to subscribe for up to $15,000 of new units, free of brokerage and transaction costs. The new units will be offered at the same price as the Placement of $4.51 per unit. New units issued under the UPP will rank equally with existing CQR units and will be entitled to the full distribution for the half year ending 30 June 2019.
Further information on the UPP will be lodged with the ASX and sent to eligible unitholders on or around 8 April 2019.
Recommencement of trading
CQR units are expected to resume trading on the ASX from market open today (Tuesday, 2 April 2019).
1 CQR may (in its absolute discretion) in a situation where total demand exceeds $10 million, decide to increase the amount to be raised under the UPP to reduce or eliminate the need for scale back. CQR reserves the right to scale back applications under the UPP at its discretion.
Click here to view the ASX Release.
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Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
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