The Group has also announced an investment of circa $80 million in its Melbourne plasterboard plant. Once commissioned, the plant will have sufficient installed capacity to service growth in the southern states of Australia. This investment is expected to return in excess of the cost of capital.
To support the future growth of its core businesses including the Port Melbourne plasterboard plant, Boral has today announced a fully underwritten 1 for 5 accelerated renounceable entitlement offer (AREO) to raise gross proceeds of approximately $490 million at an issue price of $4.10 per share.
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