United Malt Group’s 1H20 Revenue up by 9%, Launches Equity Raising of $140 million

  • May 14, 2020 AEST
  • Team Kalkine

United Malt Group Limited (ASX:UMG) announced equity raising through a $140 million fully underwritten placement and a $25 million share purchase plan (SPP).

The placement was priced at a per-share price of $3.80, representing an 11.4% discount to UMG’s last traded price of $4.29 on 13 May 2020.

UMG disclosed that Macquarie Capital Limited is acting as Sole Lead Manager, Bookrunner and Underwriter to the Placement.

Moreover, the company stated that it had recorded a solid 1H20 despite challenging market conditions with revenue for 1H20 up by $55.1 million or 9% on the previous corresponding period.

 


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