By Sheri Kasprzak
New York, May 26 - Macquarie Goodman Group expects to close a A$350 million private placement with a group of institutional investors early in the May 29 week.
The company plans to sell 68,627,451 shares at A$5.10 each, a 1.8% premium to the company's closing stock price of A$5.01 on May 24.
The deal is slated to close May 31.
Proceeds will be used to partially fund Macquarie's acquisition of Eurinpro International SA.
Also, Macquarie announced that a share purchase plan will be priced at A$5.10 per share, but the full terms of the plan have not yet been determined.
Based in Sydney, Australia, Macquarie is an industrial property development company.
| Issuer: | Macquarie Goodman Group
|
| Issue: | Stock
|
| Amount: | A$350 million
|
| Shares: | 68,627,451
|
| Price: | A$5.10
|
| Warrants: | No
|
| Announcement date: | May 26
|
| Settlement date: | May 31
|
| Stock symbol: | Australia: MGQ
|
| Stock price: | A$5.36 at close May 26
|
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