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Irongate Group Announces the Acquisition of Canberra Office Property and Placement

15 Jun 2021  |  09:57:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of Canberra Office Property and Placement

Irongate Group announced the acquisition from Blackstone Group of a 100% interest in the property located at 38 Sydney Avenue, Canberra ACT (Property) for a total purchase price of A$73.75m (Acquisition). A fully underwritten institutional placement to raise A$50m (Placement) at an issue price of A$1.47 per stapled security (Issue Price) to partly fund the Acquisition and the associated transaction costs. It launched a fully underwritten Placement of 34.01m new FPO stapled securities (New Securities) to raise A$50m at a fixed Issue Price of A$1.47 per New Security.

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