Toll road owner Macquarie Atlas Roads Group is seeking an equity injection via an institutional placement to fund managers.
Fund managers expect an offer worth $185 million at $4.85 a share, and were awaiting formal terms on Thursday morning.
The company's shares last closed at $5.10.
Macquarie Capital and its equities desk is expected to handle the deal, with proceeds to fund an acquisition to take full control of the Dulles Greenway tollroad in the United States.
The acquisition is worth $US445 million.
Macquarie Atlas shares went into a trading halt ahead of the raising.
It comes as the $2.7 billion company also prepares to hand down its results for the year to December 31.
