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Kangaroo Island jumps into capital raising for $55m purchase

Matthew Cranston
Matthew CranstonUnited States correspondent
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The ASX-listed Kangaroo Island Plantation Timbers has successfully closed the institutional component of its $12.8 million equity raising.

The raising is the first of two that will be used to fund the purchase of a timber plantation from New Forests for $55 million and the development of the company's Kangaroo Island estate and new export facility.

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Matthew Cranston was The Australian Financial Review’s United States correspondent
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    Original URL: https://www.afr.com/property/kangaroo-island-jumps-into-capital-raising-for-55m-purchase-20161111-gsn2le