Australia's FKP raises $165 mln in placement

SYDNEY, June 29 (Reuters) - Australian property firm FKP Property Group (FKP.AX) has raised about A$204 million ($165 million) by selling new shares to institutional investors, the company said in a statement on Monday.

Last week, FKP launched a A$324 million capital raising at A$0.40 per share to strengthen its balance sheet. FKP shares are set to resume trading on Monday. ($1=A$1.24) (Reporting by Denny Thomas)