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GUD Holdings Announces Successful Completion Of $55m Institutional Placement

20 Nov 2020  |  09:45:00  |  Associate analysts  |  Increase  |  Decrease  |  


GUD Holdings announced the successful completion of its placement of ordinary shares to institutional investors (the Institutional Placement). The Institutional Placement raised $55m through the issue of 4.9m new fully paid Company shares (New Securities) at a final issue price of $11.25 per New Security, representing a 4.9% discount to Company's last traded share price on 18 November 2020. The final issue price of $11.25 per New Security represents a premium to the previously announced fully underwritten floor price of $10.75 per New Security. It received interest from both existing institutional shareholders and new investors with demand to participate in the Institutional Placement being greater than the funds that Company sought to raise.

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