Bapcor Says Retail Component Of AU$150 Million Entitlement Offer To Open

MT Newswires Live03-05 07:50

Bapcor (ASX:BAP) said the retail component of its fully underwritten 1-for-1.36 pro rata non-renounceable entitlement offer at an offer price of AU$0.60 per share to raise around AU$150 million would open on Thursday and is expected to close at on March 19, according to a same-day Australian bourse filing.

It expects to issue around 72.4 million new shares under the retail component of the entitlement offer for gross proceeds of around AU$43.5 million. The proceeds of the entitlement offer will be used to reduce Bapcor's debt.

Macquarie Capital is acting as sole lead manager and underwriter to the equity raising.

Its shares rose over 2% in recent trading on Thursday.

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