Channel Infrastructure (NZE:CHI) is raising NZ$50 million through a 1-for-12.12 underwritten pro-rata accelerated renounceable entitlement offer to fund the development of a bitumen import terminal at Marsden Point for Fletcher Building (NZE:FBU, ASX:FBU) subsidiary, Higgins, according to a Monday filing with the New Zealand bourse.
The offer is priced at NZ$1.60 per share, reflecting an over 10% discount to the closing price of NZ$1.78 on Nov. 22, the filing said.
The institutional component of the offer opens Monday, while the retail counterpart is due to start on Nov. 28.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments