The proceeds of the underwritten equity raising will be applied primarily to the reduction of debt, Asciano said.
Asciano chairman Tim Poole said the company had received a range of proposals to recapitalise the business or to acquire one or more of its business units, but the equity raising was the best option.
"Asciano was in the fortunate position of having a number of alternative proposals on the table,'' he said in a statement.
"The decision to raise new equity was made only after considering the full range of factors.
"The board of Asciano believes that this transaction represents the best overall outcome for securityholders.
"It also provides the platform for Asciano to undertake a comprehensive restructuring of its capital base.''
