Sydney - Wednesday - Sep 27: (RWE Australian Business News) - AP Eagers Ltd (ASX code: APE) today said its 1-for-8 rights issue had been strongly supported by shareholders and closed oversubscribed. Under the terms of the issue, shareholders could, in addition to taking up their entitlement in full, apply for additional shares from those entitlements not taken up by shareholders (shortfall shares). The company received applications for additional shares in excess of the number of shortfall shares available and accordingly the applications for additional shares have been scaled back. In conjunction with a $6.4 million placement, AP Eagers has raised a total of $26 million before issue costs, which will be utilised to fund working capital and future acquisitions.
APE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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