AusRAIL, Market Sectors

Toll share placement raises $60.8m

<p>Toll Holdings has placed 4m shares with institutional investors, raising $60.8m for capital management purposes, the company said today (Friday, October 6).</p> <p>The shares, which have equal rank with Toll’s ordinary shares, will shore up dividend reinvestment plan for the 2006 dividend. </p> <p>Citigroup Global Markets Australia is the manager and underwriter.</p> <p>The move comes after property group Stockland finalised the purchase on Wednesday of three Toll-related distribution facilities in the Toll Business Park near the port of Melbourne for $58m.</p> <p>They are the Ipec parcel distribution centre and facilities servicing Nike and Arnotts, all leased to Toll with an average expiry of 6.8 years, Stockland said</p> <br />