Boral institutional raising at $4.65.

BORAL has completed the institutional component of an entitlement offer to raise $490 million, with pricing coming in at $4.65.
Boral said in a statement that about 92 per cent of eligible institutional shareholders opted to take up their entitlements at $4.10 a share under the offer, raising $274m.
It said about 5.5 million shares were cleared under an institutional bookbuild at $4.65 a share.
The capital raising will be used to fund a restructuring plan designed to streamline Boral's operations.