Centuria Industrial REIT has entered a trading halt as it prepares to tap the market for $130m.
The company will launch a bookbuild for the raise, with shares sold from a floor price of $2.54.
Shares last traded at $2.76.
Working on the deal is investment bank JP Morgan.
It comes after the industrial property landlord’s market value has fallen by more than 25 per cent since the onset of the coronavirus crisis, to just under $1bn.
The company has debt levels of 35.5 per cent and downgraded its earnings guidance at the beginning of the month.
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