MAp said today it would soon proceed with a non-renounceable pro-rate entitlement offer to eligible security holders, raising a maximum of $356 million.
New securities will be offered at $2.30, and will rank equally with existing securities amd entitled to the final 2009 distribution.
The offer comes after security holders voted in favour of the group's proposal to pay Macquarie Capital Group $345 million in exchange for management rights.
MAp's independent directors undertook the process to reduce the gap between MAp's security price and the value of its airport assets in Sydney, Brussels and Copenhagen.
Macquarie Capital Group had committed to take up its full pro-rata entitlement, which could see it claim a maximum of about 88.3 million new securities.
That could see Macquarie increase its voting power from 22.8 per cent to 25.8 per cent, depending on the take-up of the entitlement offer, MAp said.
An increase in voting power could enable Macquarie to "block special resolutions proposed by MAp", the group said.
"However, as Macquarie Group has voting power in MAp of 22.8 per cent as at the date of this notice, it may already have practical capacity to block special resolutions in relation to which it is able to vote."
The entitlement offer opens on October 14 and the new securities are expected to commence trading on the exchange on November 9.
MAp securities were up four cents, or 1.41 per cent, at $2.88 at 11.25am AEST.
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