Boral announced on 24 November that it closed the institutional component of a capital raising that it hopes will total A$2.05 billion, and that it now hopes to raise another A$483 million from retail investors by 9 December.
The institutional share raising was multiple times oversubscribed, Boral added in a statement.
Shares in Boral fell 12% to A$5.09, higher than the A$4.80 issue price of the new shares, suggesting investors took a favourable view of a deal which the company says will double its US presence.
