Folkestone calling for bids for $42m raising

Real estate investment group Folkestone Limited is calling for institutional bids by 10am AEDT on Tuesday for a $42 million capital raising.

Sarah Thompson, Anthony Macdonald and Jake Mitchell

Updated Nov 24, 2014 – 10.45am, first published at 10.42am

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Real estate investment and development group Folkestone Limited is calling for institutional bids by 10am AEDT on Tuesday for a $42 million capital raising.

The raising is made up of a $15.8 million institutional share placement and a $26.2 million one-for-four accelerated non-renounceable entitlement offer. Folkestone went into a trading halt on Monday morning as joint lead manager and sole underwriter on the raising Moelis & Co looked to lock in investor demand.