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InvoCare Announces Completion of Institutional Placement

15 Apr 2020  |  09:02:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Placement

InvoCare completed a $200m underwritten institutional placement (Placement) of 19.2m new FPO shares (New Shares) to institutional investors at a price of $10.40 per New Share (Placement Price). As announced on 14 April 2020, the Company intends to apply Placement proceeds to initially reduce net debt and increase liquidity and balance sheet flexibility to support the business during the current uncertain environment. Following the completion of the institutional Placement, the Company will offer eligible shareholders with a registered address in Australia and NZ the opportunity to participate in a non-underwritten SPP.

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