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 is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
