WiseTech Global Announced a Successful Completion Of a $300 Million Placement

  • Mar 20, 2019 AEDT
  • Team Kalkine
WiseTech Global Announced a Successful Completion Of a $300 Million Placement

WiseTech Global Limited (ASX: WTC) is into providing software solutions to the logistics services industry globally. Its clientele sprawls beyond 12,000 logistics companies around the globe and in more than 130 nations.

The company on 20 March 2019 had announced a successful completion of a $300 million fully underwritten placement of 14,354,067 fully paid ordinary shares, to existing institutional shareholders, and eligible new institutional investors at a Placement Price of $20.90, with an aim to provide the company with balance sheet flexibility and increase the capacity at which it can accelerate its long-term organic growth.

The company had increased the size of the placement to $300 million from the expected $250 million, announced to the market at the launch as on 19 March 2019. This movement was made in order to partially accommodate the huge demand from the institutional investors locally and on global level as well.

The Founder and CEO of the company, Mr Richard White, said that the company is boosted by the incredibly strong support shown by both the existing, and new high-quality, institutional investors for the company. As stated by him the capital raising will add further strength to the balance sheet of the company, vision of digitally empowering and will enable the global logistics industry and increase the capacity to accelerate the long-term organic growth. However, to achieve this, the company needs persistent innovation and the strategic acquisition of valuable assets in important new locations.

The settlement of the Placement is likely to occur on Friday, 22 March 2019, with allotment expected to occur on Monday, 25 March 2019.

As per the announcement made on ASX, dated 19 March 2019, the company will also offer its eligible shareholders the right to participate in a Share Purchase Plan (SPP) in Australia and New Zealand. The issue price under SPP will be the lower of either the placement price of $20.90, or a 2% discount to the 5-day VWAP, to the closing date of the SPP. The new shares to be issued under the SPP will be pari passu with existing WTC’s fully paid shares.

The issue and normal trading of New Shares which had been issued under the Placement will commence on 25 March 2019, Monday. The bookbuild indicative price range is based on between $20.30 to $21.50. This is a discount range of 7.2%-12.4% compared to the latest closing price of $23.18 as on 18 March 2019, and a 3.0% -8.4% discount to the 5-day VWAP to 18 March 2019 of $22.17.

On the price-performance front, the stock of WiseTech Global closed at A$23.00 with ~0.777% decrease during the day’s trade, with a market capitalisation of A$6.98 billion (as on 20 March 2019). The stock has generated a YTD return of 36.11% and returns of 11.60%, 30.08% and 2.39% over the past six months, three months and one-month period respectively. It had a 52-week high price of A$25.0 and a 52-week low price of A$9.180, with an average trading volume of 668,822. The stock is trading at a PE multiple of 143.09x with an annual dividend yield of 0.14%.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK