Bapcor (ASX:BAP) raised gross proceeds of about AU$157 million upon completion of the institutional component of its AU$150 million fully underwritten 1 for 1.36 accelerated pro rata non-renounceable entitlement offer and the AU$50 million fully underwritten pro rata institutional placement, according to a Friday filing with the Australian bourse.
The retail component of the entitlement offer is expected to raise a further AU$43 million, with the equity raising anticipated to raise a total of about AU$200 million, the filing said.
Bapcor shares fell nearly 50% in midday trade Friday and earlier reached an all-time low.
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