The company has hailed it a success, with a 96% take up rate. 

 

Entitlements not taken up by eligible institutional security holders and entitlements of ineligible institutional security holders were sold and cleared in the institutional bookbuild at $8 per entitlement, equal to a 30c premium on the offer price of $7.70. 

 

Chief financial officer Peter Fredricson said that it was pleasing to see ongoing support for the significantly increased 2017-18 growth program from the company's broad ranging institutional investor base. 

 

The retail component opens March 2 and eligible retail shareholders will receive the same price of $7.70 per share. 

 

The company has over a billion dollars of growth projects and it says this entitlement offer will position it to take advantage of significant growth opportunities and maintain current debt headroom.