Sky Network Announces an Equity Raise

  • May 21, 2020 NZST
  • Team Kalkine
Sky Network Announces an Equity Raise

Sky Network Television Limited (NZX:SKT) is performing an equity raising of about NZ$157 million to make sure it is well capitalised to resist the effects of COVID-19 pandemic and is well prepared to implement on future growth opportunities when the conditions improve.

The company has planned to launch an equity raising of NZ157 million, at an offer price of NZ$0.12 per share, comprising:

  • a fully underwritten NZ$9 million institutional placement and;
  • A fully underwritten NZ$148 million pro-rata non-renounceable accelerated entitlement offer, at a ratio of 2.83 for 1.

 


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