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.