Firms: Ashurst (lead managers Euroz Securities and RBS Morgans), Clifford Chance Perth (Cedar Woods Properties Limited)
Deals: Placement and share purchase plan (SPP)
Value: $25 million (placement). SPP to raise up to another $5 million
Key players: Roger Davies was the lead Ashurst partner supported by Matthew Rumpus.
Deal significance: Cedar Woods is raising $25 million via a share placement to institutional investors. The proceeds of the placement will be used for working capital and growth initiatives, including development of the Williams Landing Town Centre in Victoria. New shares will be issued at $3.45 which represents a discount of eight per cent to the last-traded price (excluding dividend).
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