Australia Asciano to raise A$2 bln, offers rejected

Sun Jun 14, 2009 11:47pm BST
 
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SYDNEY, June 15 (Reuters) - Australian ports operator Asciano Ltd (AIO.AX) said on Monday it would raise a minimum of A$2 billion ($1.6 billion) of capital at A$1.10 per share to reduce debt, rejecting offers for the whole company.

Asciano said that although it had received a number of alternative proposals, the raising was the best outcome for its shareholders.

The group also said it sees full-year EBITDA at about A$655 million, but would pay no final dividend. 2009/10 EBIDTA was seen at about A$675-700 million (Reporting by Jonathan Standing)

 

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