BORAL 24/11/16
KEY HIGHLIGHTS • Institutional Placement and Institutional Entitlement Offer successfully completed, raising approximately A$1.58 billion • The Placement was multiple times oversubscribed and saw very strong demand from both existing institutional shareholders and new investors • Institutional Entitlement Offer was strongly supported by existing institutional shareholders, who took up approximately 91% • Institutional Bookbuild clearing price of A$5.25, representing an A$0.45 premium to the Entitlement Offer price of A$4.80 per new share •
DOW 24/3/17
Today Downer announced the completion of the institutional component of the Entitlement Offer, raising approximately $757 million ("Institutional Entitlement Offer") with approximately 66 percent of entitlements being taken up by eligible institutional shareholders.
Approximately 44 million entitlements not taken up by eligible and ineligible institutional shareholders were offered for sale in the institutional bookbuild, which was conducted on 22 and 23 March 2017 ("Institutional Bookbuild").
As the Institutional Bookbuild did not clear the Entitlement Offer price of $5.95 there will be no proceeds available for distribution.
DOW Price at posting:
$5.55 Sentiment: Buy Disclosure: Held
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