Bapcor Opens SPP for Eligible Shareholders Post Completing Institutional Placement

April 26, 2020 10:03 AM AEST
Team Kalkine

Bapcor Limited (ASX:BAP) has opened the Share Purchase Plan (or SPP) announced by the Company on 16 April 2020.

The SPP, which is now open for applications from eligible shareholders, follows BAP’s successfully placement to institutional investors for $180 million at face value of $4.40 apiece; and,
Under the SPP, eligible shareholders can apply for up to $30,000 of new fully paid ordinary shares.
The Company also suggested that the issue price under SPP would be less than the placement price and would also mark a 2 per cent discount on 5-day VWAP of Bapcor shares up to the SPP closing date.

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