Thanks, full text below for anyone interested. I'm fine with this too...Stockbroker Morgans is drumming up interested in ASX-listed small cap Acrow Formwork and Construction Services, pitching a $10.5 million placement to its clients on Tuesday.
Acrow Formwork and Construction Services launched an institutional placement on Tuesday. Peter Braig
The broker contacted fund managers seeking buyers for new shares at 38¢ a share, which was an 11.6 per cent discount to the last close and an 11.4 per cent discount to the 10-day VWAP.
Funds raised would be used to grow Acrow’s industrial services business, which provides scaffold hire and formwork to industrial clients including power stations.
The deal was structured as a placement of ordinary shares to institutional, sophisticated and professional investors, according to terms sent to investors.
Morgans was calling for bids by midday on Wednesday.
Acrow shares went into a trading halt on Tuesday morning ahead of the offer. Acrow had a $95 million market capitalisation prior to the raising
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Last
$1.07 |
Change
0.010(0.94%) |
Mkt cap ! $322.4M | |||
| Open | High | Low | Value | Volume |
| $1.07 | $1.08 | $1.06 | $198.5K | 185.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1882 | $1.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.10 | 20000 | 1 |
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| ACF (ASX) Chart |