Reuters logo
BRIEF-Charter Hall Group upgrades FY earnings guidance to 35.9cps
April 28, 2017 / 1:54 AM / 8 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:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below