Australian Finance Group Announces $60 Million Equity Raising

May 13, 2020 11:56 AM AEST
Team Kalkine

Australian Finance Group Ltd (ASX:AFG) announced $60 million equity raising to strengthen its capital position and support the future growth of the company. The shares would be issued at A$1.15 through a $45 million 1 for 5.5 pro rata accelerated non-renounceable entitlement offer. The remaining $15 million through institutional placement.

Some of AFG Directors and Management committed to subscribe for $5 million of the Equity Raising and to sub underwrite up to $690,000 of the Retail Entitlement Offer.

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