BWP Trust Launches AU$228 Million Security Entitlement Offer

MT Newswires Live05-06

BWP Trust (ASX:BWP) launched a fully underwritten pro rata entitlement offer to generate about AU$228 million, according to a Wednesday filing with the Australian bourse.

The offer entitles eligible security holders to subscribe for one new security for every 12 existing BWP securities held as of the May 8 record date at a price of AU$3.77 per security.

Wesfarmers (ASX:WES), which is BWP's largest security holder with a 23.4% stake, will take up its full entitlement with a commitment of about AU$53 million, per the filing.

BWP Trust said proceeds from offer facilitate future capital deployment opportunities including the funding of commitments.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment