ING Office Fund to Raise $415 Million

The equity raising comprises:

• An accelerated non-renounceable 2 for 5 entitlement offer to eligible unitholders at $0.45 per new unit to raise up to $325 million (“entitlement offer”); and
• An institutional placement to raise $90 million at $0.45 per new unit (“placement”).

The institutional component of the entitlement offer and the placement are fully underwritten and will raise $300 million. The retail component of the entitlement offer is not underwritten and may raise up to $115 million, depending on the final level of take-up.

Proceeds from the underwritten component of $300 million will provide considerable benefits to IOF, including:

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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