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  • Charter Hall Long WALE (CLW) has completed its $60 million placement to buy into bp stations
  • Yesterday, The Real Estate Investment Trust (REIT) announced it signed an agreement to nab a 49 per cent stake in 70 bp petrol stations across New Zealand for NZ$130.8 million (nearly A$120 million)
  • Under the placement, the company issued 12.3 million new shares for $4.87 each to new and existing shareholders
  • Additionally, Charter Hall aims to raise a further $10 million through a share purchase plan (SPP)
  • Under the SPP eligible shareholders will be able to purchase up to $30,000 worth of new shares
  • Company shares came back into trading today and are down 1.49 per cent and trading for $4.96 per share

Charter Hall Long WALE (CLW) has completed its $60 million placement to buy into bp stations.

Yesterday, The Real Estate Investment Trust (REIT) announced it signed an agreement to nab a 49 per cent stake in 70 bp petrol stations across New Zealand.

All stations are triple net leased, meaning that property expenses like taxes, insurance and maintenance are all bp’s responsibility.

The deal will see Charter Hall buy the interest in the bp portfolio for NZ$130.8 million (nearly A$120 million).

Under the placement, the company issued 12.3 million new shares for $4.87 each to new and existing shareholders.

Additionally, Charter Hall aims to raise a further $10 million through a share purchase plan (SPP). Under the SPP, eligible shareholders will be able to purchase up to $30,000 worth of new shares.

Company shares came back into trading today and are down 1.49 per cent and trading for $4.96 per share at 3:35 pm AEST.

CLW by the numbers
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