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BRIEF-Charter Hall Group upgrades FY earnings guidance to 35.9cps
April 28, 2017 / 1:54 AM / 6 months ago

BRIEF-Charter Hall Group upgrades FY earnings guidance to 35.9cps

April 28 (Reuters) - Charter Hall Group-

* 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 Source text for Eikon: Further company coverage:

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