Transurban has easily absorbed another equity raising with the tollroad company's shares closing only slightly lower after a $500 million institutional share placement to secure full control of Sydney motorway M5.
Transurban said the placement, which was made at $14.70 per share, was oversubscribed despite some analysts cautioning retail investors not to buy more stock.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
