Corporate Action - Dexus Scoops Up More Sydney Offices. Don’t Participate in SPP.
Narrow moat-rated Dexus is raising AUD 500 million at AUD 10.20 per security via an institutional placement to fund the purchase of a 25% stake in Sydney’s MLC Centre for AUD 361 million and 100% of 100 Harris Street, Pyrmont, Sydney for AUD 327 million. The balance of the funds for the acquisition will be sourced from existing debt facilities plus a share purchase plan, or SPP. The Dexus Wholesale Property Fund, or DWPF, is also acquiring a 25% stake in MLC Centre alongside Dexus. Dexus also fl...Dexus Property Group owns, manages and develops real estate assets and manages real estate funds on behalf of third party investors. Co.'s operating segments include: office, which comprises domestic office space with any associated retail space, as well as car parks and office developments; industrial, which comprises domestic industrial properties, industrial estates and industrial developments; property management, which comprises property management services for third party clients and owned assets; funds management, which comprises funds management of third party client assets; development and trading, which involves its development and inventory: and all other segments.
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