1 October 2013 Placement Listed child care operator and educator, G8 Education Limited (ASX: GEM), today announced that it had successfully completed a placement to institutions and professional investors of 26 million G8 Education shares at $3.10 to raise $80.6 million. The issue has been jointly managed by Petra Capital and Canaccord Genuity. G8 Education’s managing director, Chris Scott, said, ‘We are very pleased with the strong level of support shown for the placement. We are delighted with the increased investment by our existing institutional shareholders. We acknowledge their ongoing support for the Company and appreciate this external endorsement of G8’s performance and acquisition strategy.’ Mr Scott said that the monies raised through the placement will be used to fund future acquisitions.
GEM Price at posting:
$3.34 Sentiment: Buy Disclosure: Held
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