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Downer EDI (ASX:DOW) has completed the institutional component of its 279 million dollar capital raising but doubts remain over its success.
The group raised 200 million dollars from institutions in the 1-for-4 renounceable entitlement offer at $3.25 a share.
Downer says it received strong support for the raising - eligible institutional shareholders taking up 97 per cent of their stake in the pie.
However a Commonwealth Bank (ASX:CBA) analyst described it as a band-aid solution to appease credit rating firm Fitch.
Another analyst from Macquarie (ASX:MQG) questioned whether the extra equity will be enough.
Shares rallied at the close of trade yesterday.
Downer EDI made a loss of over 103 million dollars to December 31.
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Last
$7.26 |
Change
0.130(1.82%) |
Mkt cap ! $4.875B | |||
| Open | High | Low | Value | Volume |
| $7.18 | $7.31 | $7.16 | $49.98M | 6.903M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3037 | $7.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.30 | 33699 | 4 |
View Market Depth
| Last trade - 16.10pm 12/09/2025 (20 minute delay) ? |
| DOW (ASX) Chart |