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InvoCare Announces to Raise Up to A$85m

08 Mar 2019  |  09:37:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: InvoCare to Raise up to A$85 million

InvoCare announced that it is undertaking a fully underwritten institutional placement to raise A$65m (the Institutional Placement), and a follow-on Share Purchase Plan (SPP) which will be capped at A$20m. The net proceeds of the capital raising will be used to provide incremental balance sheet flexibility. The Institutional Placement Price will be determined by way of a variable price bookbuild with an underwritten floor price of $13.30 per share. The floor price represents a 7.3% discount to the last closing price of $14.34 on 7 March 2019.

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