ING Industrial Fund plans to raise up to A$700 million ($641 million) in a fully underwritten rights issue of new shares, a source familiar with the transaction said on Tuesday.
The property trust's shares were put on a trading halt pending an announcement on capital management initiatives, which it expects to make before the market opens on Thursday.
Its shares last traded at A$0.60, valuing the group at A$680 million.
($1=1.092 Australian Dollar)
(Reporting by Denny Thomas; Editing by Sonali Paul and Mark Bendeich)