AUB Group Limited (ASX: AUB) announced the successful completion of the institutional component of its fully underwritten equity raising. The proceeds from this capital raising, the Vendor Placement and New Debt Facility will be used to fund the acquisition of Tysers.
The institutional component of the equity raising comprises an AU$71 million fully underwritten institutional placement (Placement) and the institutional component of an AUD279m fully underwritten 1 for 5.2 accelerated pro-rata non-renounceable entitlement offer (Entitlement Offer) (Institutional Entitlement Offer). In this process, each share was issued at AU$19.50.
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