G8 confirms completion of $301m capital raise
The Sector > Provider > Reporting > G8 confirms completion of $301m capital raise

G8 confirms completion of $301m capital raise

by Jason Roberts

May 06, 2020
G8 results

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

Download The Sector's new App!

ECEC news, jobs, events and more anytime, anywhere.

Download App on Apple App Store Button Download App on Google Play Store Button