Costa Concludes Institutional Entitlement Offer

  • Oct 30, 2019 AEDT
  • Team Kalkine

Costa Group Holdings Limited (ASX: CGC) announced the successful completion of the institutional component of its fully underwritten 1 for 4 pro-rata accelerated renounceable entitlement offer with retail right trading.

  • The institutional offer raised approximately $87 million.
  • Institutional shareholders strongly supported the offer and took up ~88 per cent of their entitlements.
  • Institutional Shortfall Book building clearing price of $2.30 per new share, representing a $0.10 premium to the Offer Price of $2.20 per new share.
  • Retail Entitlement Offer opens on 6 November 2019 and the trading commenced on the ASX today (30 October 2019).

At AEST 1:23 PM, the stock was trading lower at $2.67, down by 22.8 per cent.

 

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