Downer EDI Limited (ASX:DOW) is expected to raise A$400 million of equity through a 1 for 5.58 fully underwritten accelerated non-renounceable pro-rata entitlement offer.
The Entitlement Offer will help the acquisition of the leftover shares in Spotless, strengthen the balance sheet of Downer, and provide flexibility for continued investment in DOW’s core businesses.
For FY20, statutory NPAT loss is anticipated to be in the range of A$150-A$160 million.
The company notified that given the current circumstances and equity raising, it does not intend to pay a final dividend for the year ended 30 June 2020.
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