Navigator Global Investments Completes AU$145 Million Entitlement Offer

MT Newswires Live05-29

Navigator Global Investments (ASX:NGI) said it has completed the retail component of its AU$145 million fully underwritten accelerated pro rata non-renounceable entitlement offer at AU$2.40 per share, with eligible retail shareholders applying for about 1.7 million shares worth AU$4.1 million, representing a take-up rate of about 38%, according to a Friday Australian bourse filing.

The company said entitlements not taken up by eligible retail shareholders and entitlements of ineligible retail shareholders, representing about 2.8 million shares worth AU$6.8 million, will be allotted to sub-underwriters.

The retail component follows the institutional component, which raised about AU$134 million when it closed on May 5, bringing total proceeds from the entitlement offer to about AU$145 million, the filing added.

New shares issued under the retail component are expected to be allotted on June 2 and start trading on June 3, ranking equally with existing shares from the date of allotment, it added.

The company's shares rose 1% in recent Friday trade.

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

We need your insight to fill this gap
Leave a comment