Lendlease – Gearing Falls

Lendlease announced a raising of up to $1.15bn  $9.80 per share.

The equity raising comprises a fully underwritten $950m institutional placement, along with up to $200m via a non-underwritten SPP.  With the proceeds from the placement, liquidity will increase to $4bn and company gearing will fall to 10-15%, (assuming completion of the sale of the Engineering business).

You're not a member!  Trial today!

A correction in commercial real estate will provide new opportunities for Lendlease but will also ensure a tough operating environment in the near-term.

 

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
© 2020 Investor Signals