Mirvac shares are expected to resume trading when the share market opens after the property group completed its fully underwritten $750 million placement.
The company says both existing and new investors had supported the placement it announced the previous day, with approximately 252.5 million stapled securities issued at the placement price of $2.97.
That represented a 4.2 per cent discount to Mirvac’s closing price of $3.10 per stapled security before it entered a trading halt.
The company said on Thursday the new shares are expected to settle on Monday with allotment and normal trading to occur on Tuesday.
Mirvac said the funds raised will support the delivery of new projects, repay debt and replenish funding for its existing development pipeline.
The company lifted first-half profit 39 per cent to $648 million and in February said demand for its residential developments were holding up amid the housing market decline.
Mirvac shares have gained nearly 40 per cent so far this year.