Infomedia Completed a $70 Million Fully Underwritten Institutional Placement

April 24, 2020 12:39 PM AEST
Team Kalkine

Infomedia Ltd (ASX:IFM) announced the successful completion of a $70 million fully underwritten institutional Placement of ~46.6 million new fully paid ordinary shares at $1.50 per new share to the institutional investors.

IFM witnessed a strong support for the Placement from existing institutional shareholders as well as new institutional investors.

The new shares issued would have equal rank with current IFM ordinary shares. The settlement of the Placement would take place on 28 April 2020. The new shares would be issued & start trading on a normal settlement basis, on the following business day, 29 April 2020.

At AEST 12:12 PM, IFM shares are trading 10% below its previous close at $1.53.

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