Building materials supplier Boral says it has received strong support from institutional investors whilst raising money to fund its $US2.6 billion acquisition of Headwaters Incorporated.

Boral has raised about $A1.58 billion through an institutional share placement and an institutional entitlement offer. It will begin a retail entitlement offer, expected to raise about $A483 million, on November 30. Boral said the institutional placement was greatly oversubscribed and the entitlement offer was strongly supported, with a 91…