Peet goes to shareholders for funds management growth

Perth-based property group Peet Ltd has issued a share purchase plan to its shareholders, just over a month after it raised $82 million through a placement to develop its funds management business.

The capital raising will work along much the same terms as the placement, giving eligable shareholders the opportunity to acquire a maximum of 1,210 shares at $4.10 each, with the company using the revenue to grow new profit streams and consider further acquisition opportunities.

Shares purchased under the SPP will not attract brokerage, stamp duty or any other transaction costs.

The offer opens today, to close at 5pm WDST December 18.