SCA Property Focus on Convenience Focus Delivers a Resilient Result. FVE Unchanged at AUD 2.30
In order to fund the upcoming purchase of 10 shopping centres, Shopping Centres Australasia Property Group, or SCA Property, has undertaken a AUD 262 million institutional placement at AUD 2.32 per unit and is also undertaking a unit purchase plan, or UPP, raising up to a further AUD 50 million. Existing unitholders can subscribe for up to AUD 15,000 of additional new units with no brokerage or transaction costs. The price for each new SCA Property unit will be the lower of the institutional pla...Shopping Centres Australasia Property Group is an internally managed real estate investment trust. Co. is comprised of Shopping Centres Australasia Property Group Re Limited, the responsible entity to the Shopping Centres Australasia Property Management Trust and Shopping Centres Australasia Property Retail Trust. The units of each Trust are stapled together to form a stapled listed vehicle. Co. owns and manages a portfolio of sub-regional and neighbourhood shopping centres and freestanding retail assets. Co.'s portfolio is focused on convenience retailing. As of June 30 2016, Co. had a total of 83 operating properties, including 69 in Australia and 14 in New Zealand.
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