Big Equity Raise to Fund Transurban's West Gate Tunnel Project in Melbourne
Transurban is raising AUD 1.9 billion in equity to help fund its AUD 4 billion West Gate Tunnel Project, or WGTP, in Melbourne, which was agreed with the government yesterday. The raising is a 3-for-37 fully underwritten entitlement offer, with the retail component closing on Jan. 24, 2018. Entitlements are renounceable, meaning they can be sold on market by investors not wishing to participate. The offer price of AUD 11.40 represents a 5% discount to the last close and a 7% premium to our AUD 1...Transurban Group is engaged in the development, financing, operation and maintenance of toll road networks as well as management of the associated customer and client relationships. Co. manages and develops urban toll road networks in Australia and the U.S. Co. owns concession assets across four key market segments: Victoria, New South Wales, Queensland and the Greater Washington Area.
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