Lend Lease to raise $300mln in share placement

Lend Lease Corp, an Australian property investor, plans to raise A$302.5 million ($196 million) through an institutional share placement, the company said in a statement on Wednesday.

Lend Lease Corp, an Australian property investor, plans to raise A$302.5 million ($196 million) through an institutional share placement, the company said in a statement on Wednesday.

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The new shares are being sold at A$6.05 each, a 10.5 per cent discount to its last traded price of A$6.76. Lend Lease shares were placed on trading halt earlier on Wednesday pending an announcement.