Login
Allens acts for ALE property on $105m raising
Deal summary:
Lawyers Weekly
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
| Deal summary:
Advertisement
Advertisement
| Allens Arthur Robinson has acted for ALE Property Group (ALE Property), Australia's largest listed freehold owner of pubs, on an equity raising valued at $105 million via an accelerated entitlement offer and an institutional placement. The raising - which is fully underwritten by Macquarie Capital Advisers - consists of a $76 million one-for-two renounceable entitlement, at an offer price of $1.50, and an institutional placement at an issue price of $2.25, raising a further $29 million. |
| Key Players:
| Allens' Partner Stuart McCulloch (pictured) and team including senior associate Eve Regnard, lawyers Andrew Tchadovitch and Kirsty Moore and law graduate George Blades. Blake Dawson acted for Macquarie Capital Advisers (the underwriters).
|
| Commentary:
| "This transaction forms part of ALE Property's larger plan for the business and will go a long way to strengthening their financial position," said McCulloch. |
