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Highlights:
- Regal Partners requested its shares to be put under trading halt from today (September 5) due to the commencement of the capital raising process.
- The company will announce an entitlement offer of 42.3 fully paid ordinary shares.
- Regal Partners will raise AU$110 million through the entitlement offer by issuing AU$2.6 per share.
Leading diversified financial firm Regal Partners Limited (ASX:RPL) requested to put its shares under trading halt on ASX from today (5 September) until further notice by the company on Wednesday (7 September 2022).
The company believes a trading halt is essential as it is about to announce a non-underwritten 1 for 5 pro rata accelerated non-renounceable entitlement offer of up to 42.3 million new fully paid ordinary shares in Regal.
Regal has requested that the trading halt must remain in place until it releases an announcement either related to the institutional component of the entitlement offer or the opening of normal trading on 7 September 2022 (Wednesday).
Regal is anticipating that it will lift the trading halt with an announcement related to the completion of the institutional component of the Entitlement Offer on ASX.
Regal also said in the announcement that it is unaware of any reason why the trading halt should not be granted.
Details of Regal's Entitlement offer:
Today, Regal Partners launched an Entitlement offer worth AU$110 at an offer price of AU$2.6 per new share of the company. The offer price represents a discount of 8.5% to Regal's last closing price, i.e. of 2 September 2022.
Regal has planned to issue 42.3 million new shares of the company as a part of this entitlement offer. This capital raise is expected to support Regal's growth strategy and accelerate its growth initiatives.
How Regal is planning to use the raised funds?
- The raised fund is supposed to support new growth strategies of the company, such as the Regal Private Credit Opportunities Fund and the Resources Royalties Strategy.
- The raised fund will also allow the company to make other investments along with wholesale investors into new and existing investment strategies.
- Furthermore, Regal believes that an improved balance sheet liquidity and flexibility will bring inorganic growth opportunities to the company.
Things to know about Regal Partners:
Regal Partners Limited (ASX:RPL) is an ASX-listed financial firm which offers investment management services to its clients. The company is a specialist in providing a diverse range of investment strategies, including hedge funds, private markets, and real estate assets. Regal Partners currently holds a market capitalisation of AU$600.69 million.
Summary of the share price performance of Regal Partners on ASX:
Meanwhile, the shares of Regal were spotted trading last at AU$2.84 apiece as of 2 September 2022.
In the last one year, Regal’s share price marked a loss of around 55% on ASX. Furthermore, on a YTD basis, Regal Partners’ dropped below 36% on ASX (as of 2 September 2022).
