Afterpay Provides Trading Update and to raise A$800 million as Co-founders sell down

  • Jul 07, 2020 AEST
  • Team Kalkine

BNPL giant, Afterpay Limited (ASX:APT) is looking to raise an A$800 million and its founders have decided to sell down 2.05 million shares each, that represents 10% of their respective holdings in APT.

The capital raisin includes a fully underwritten institutional placement to raise A$650 million and a non-underwritten Share Purchase Plan (SPP) that intends to raise nearly A$150 million.

Afterpay’s performance remains strong across the business and has delivered underlying sales of A$11.1 billion in FY20, up 112%.  EBITDA for FY20 is projected to be in between A$20-25 million.

APT quoted at A$68.000 at AEST 11:54 AM.


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