LEND LEASE ISSUES 50 MLN NEW SHARES TO RAISE US$196 MLN.

AsiaPulse News | February 4, 2009 | Copyright

SYDNEY, Feb 4 Asia Pulse - Australia's Lend Lease Corporation Ltd (ASX:LLC) has issued of 50 million new shares to raise A$302.5 million (US$196.83 million) from a placement to institutional investors.

The investment management and property group said it would use the proceeds of the capital raising to strengthen its balance sheet and fund cost-saving initiatives announced on November 13 last year.

The funding raising also follows Lend Lease's recent A$240 million investment in Lend Lease Primelife (LLP), a retirement homes and seniors accommodation ...

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