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Pacific Edge (NZX:PEB)  unveils retail offer for stakeholders

3 min read | September 28, 2021 05:59 PM NZDT | By Roma
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Pacific Edge (NZX:PEB)  unveils retail offer for stakeholders
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Highlights

  • Retail offer announced by Pacific Edge for its New Zealand shareholders.
  • Offer made as an extension to its Australia placement.
  • Capital raised will help in funding the future vision for the Company.

Pacific Edge Limited (NZX:PEB) retail offer has been marked open as part of the announcement regarding the capital raise made by the Company on 23 September 2021.

Pacific Edge’s fundamentals

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All about the retail offer

Eligible shareholders for the retail offer in New Zealand are being given a chance to be a part of raising up to NZ$20 million. The oversubscription facility shall be made available in case there is a need, as per the Board’s discretion.

According to this offer, every eligible shareholder shall be allowed to apply for shares of value up to NZ$50,000 new shares. The price offered for the same will start from NZ$1.35, it being the share under placement price.

It is also the average price, volume weighted of the Company’s shares across the NZX over a span of the 5-day period of trading, which includes 13 October 2021 as the closing date for the retail offer, unless it is extended due to any reason.

Read more: Which are 5 NZX stocks with the highest monthly returns?

The retail offer document shall have further details about other particulars regarding the same. The same shall be provided online to the eligible shareholders in the country on 28 September 2021 as well as shareholders.

Another feather in the cap

Cancer diagnostics is a critical industry that is witnessing steady growth through the efforts of Pacific Edge. Its Cxbladder range of diagnostic products have proven helpful in critical cancer detection and has been applauded by the journal of Urology in the US.

The Company has recently been trying all possible measures to step into the next chapter of sustained business growth.

Besides the retail offer for raising capital to fund it, the Company has recently become dually listed, which means it is now listed both in New Zealand as well as Australia, giving it a much wider market for running its operations.

Also read: Why did Pacific Edge’s (NZX:PEB) Placement witness huge demand?

Previous Placement offers

Besides this, there was recently a capital raise through its Australia placement for a sum of A$77.5 million, which is about NZ$80 million.

Chris Gallaher, the Company’s Chairman, was of the view that it was great to see strong placement demand witnessed and it was going to go a long way in helping endorse the plans that the Company has for its growth and sustenance.

Also read: Pacific Edge (NZX:PEB) announces dual listing on ASX and capital raise

On 28 September 2021, at the time of writing, the Company was trading at NZ$1.510, down by 3.21%. 

Bottom Line

The Company is on the right track with growth and development through various placement offers for raising capital.

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