G8 placement multiple times oversubscribed PUBLISHED: 1 HOUR 44 MINUTES AGO | UPDATE: 1 HOUR 44 MINUTES AGO EDITED BY SARAH THOMPSON, ANTHONY MACDONALD AND GRETCHEN FRIEMANN
G8 Education’s $60 million raising is at least six times oversubscribed, institutional sources told Street Talk Online on Monday. Allocations are expected to take place shortly.
The placement’s offer price at $3.10 per share represented a 7 per cent discount to the last traded price and a 4 per cent discount to the 10-day volume-weighted average price. The company plans to use the funds raised for ongoing acquisitions of child care centres in Australia.
Joint lead managers Canaccord and Petra Capital have underwritten the deal.
GEM Price at posting:
$3.34 Sentiment: Buy Disclosure: Held
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