Following to the trading halt announced on 30 September 2018, Northern Star’s stock took a leap of 18.10% to $8.220 in early trade today as the company announced successful completion of $175 million institutional placement.
Northern Star Resources Limited completed fully underwritten institutional placement of $175 million to fund support Pogo acquisition. The placement was done through the issue of approximately 26.1 million new shares at a discount price of $6.70 per share. The company also intends to offer FY18 full year dividend of 5 cents per share to the eligible placement shares.
As the proceeds from placement are to be utilized to help fund US$260 million acquisition of high-grade 4.1Moz Pogo underground gold mine in Alaska, investors have shown strong support to the placement. The support was such that placement got heavily-oversubscribed.
Northern Star Executive Chairman Bill Beament stated: “Existing shareholders, fund managers and analysts from around the world have said they share our (NST) view that Pogo is an exceptional acquisition which meets our (NST) criteria of owning tier one assets with strong growth potential in Tier One locations.”
The settlement of placement is scheduled to be completed by 5 September 2018.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.