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AUSTRALIA'S MIRVAC GROUP SEEKS $US349.85MLN IN EQUITY.

Publication: AsiaPulse News
Publication Date: 05-NOV-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SYDNEY, Nov 5 Asia Pulse - The Mirvac Group (ASX:MGR) is seeking $A500 million ($US349.85 million) in equity to strengthen its balance sheet in the face of volatile financial markets and the threat of an economic slowdown.

Mirvac has also revised down its earnings guidance for fiscal 2009.

"In these uncertain and volatile markets the board and management have determined that it is prudent to pro-actively undertake a number of initiatives to strengthen Mirvac's balance sheet, and...

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