PaperlinX says raises A$150 million in share sale

MELBOURNE, Oct 07, 2008 (Reuters via COMTEX) -- PPXLF | Quote | Chart | News | PowerRating -- PaperlinX Ltd, Australia's top paper maker and trader, said on Tuesday it had raised about A$150 million ($109 million) in an institutional share offer, priced at a 29 percent discount to its last trade.

The offer price was set at A$1.25 per new share.

PaperlinX is seeking to raise a further A$77 million in a retail offer which opens on Tuesday.

($1=A$1.38)

(Reporting by Sonali Paul and Miranda Maxwell)

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