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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