Commenting on the transaction, team leader and head of equity capital markets Stuart Byrne said: "Clayton Utz is pleased to advise long-standing client Macquarie Capital Advisers on this transaction. I expect we will see more equity raisings to fund strategic acquisitions as economic conditions improve."

The raising will also seek to raise $80 million through an accelerated, non-renounceable pro-rata entitlement offer, as well as an additional $50 million through institutional placement.

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