Elders (ASX:ELD) raised AU$143 million via the institutional component of its fully underwritten 1-for-5.05 pro-rata accelerated non-renounceable entitlement offer of new ordinary shares, according to a Tuesday filing with the Australian bourse.
The offer price of AU$7.85 per new share is a 9.2% discount to the closing price of Elders' shares last Nov. 15. The institutional offer logged a take-up rate of about 90%.
The retail component of Elders' entitlement offer will open on Nov. 25 and conclude on Dec. 9. Results will be announced on Dec. 12.
Elders' shares were down over 9% in recent Tuesday trade.
Price (AUD): $7.84, Change: $-0.81, Percent Change: -9.36%
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