April 28 (Reuters) - Charter Hall Group (CHC) -
- Fy earnings guidance upgrade to 35.9cps
- Guidance includes impact of both today's equity raising and an incremental performance fee to be realised.
- Undertaking a $275 million fully underwritten institutional placement to fund $333m of identified co-investments
- $5.48 per security fixed issue price, representing a 3.4% discount to charter hall's closing price on 27 april 2017
- Is co-investing in nine existing funds/partnerships to support their continued growth and two new fund initiatives
- Driver of operating earnings guidance upgrade triggering of 5-year interim performance fee in charter hall office trust partnership
- Performance fee will deliver an additional $10 million of pre-tax revenue
- Sees fy17 distribution per security 30.0 cents
- These new investments are also expected to generate an initial extra $1.8bn of fum
News: CHC Charter Hall Group upgrades FY earnings guidance to 35.9cps
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