Afterpay raising $1b-plus; two brokers tapped
Jul 7, 2020 – 7.39amBuy now pay later market darling Afterpay is seeking to raise over $1 billion, in a deal slated to launch on Tuesday morning.
Afterpay founders Anthony Eisen and Nicholas Molnar are selling down $250 million worth of shares as part of the company's capital raising on Tuesday. Supplied
The offer was expected to be structured as a $650 million placement, $150 million share purchase plan and $250 million selldown by Afterpay founders Anthony Eisen and Nick Molnar.
Citi and Goldman Sachs' equities desk had been tapped to oversee the deal. The pair had underwritten $900 million of the raising.
It is understood the deal would be done via a bookbuild from an underwritten floor price of $61.75. Afterpay last traded at $68.
Highbury Partnership was in Afterpay's corner as an adviser.
more to come
Get a first look at tomorrow's headlines
