G8 confirms completion of $301m capital raise
![G8 results](https://thesector.com.au/wp-content/uploads/2019/05/joanna-kosinska-129039-unsplash-1800x1000.jpg)
G8 Education has confirmed that the retail entitlement offer component of its capital raise is now complete with $75 million raised at $0.80 a share, bringing to a close the company’s capital raising exercise announced on 9 April 2020 as it aims to shore up reserves to support the organisation through the COVID-19 pandemic and beyond.
The retail offer combined with the institutional component of the transaction, which saw $227 million raised by way of a placement to investors, brings the total amount raised to $301 million and marks the end of the first major capital raise by an ASX listed early childhood education and care (ECEC) provider since the COVID-19 outbreak began.
A total of 4,198 valid applications were received from retail investors for approximately $25 million. This represented a take up of around 33 per cent.
The approximately 63 million new shares not taken up by retail investors will be allocated to the sub-underwriters in exchange for the remaining $50 million of the retail offers total monies to be raised.
The approximately 94 million new shares to be issued are expected to be allotted on 8 May 2020 and commence trading on the ASX on a normal basis 11 May 2020.
To read the statement please click here.
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