Johns Lyng Group Limited (ASX: JLG) has successfully concluded its fully underwritten institutional placement, raising AU$65 million. The announced placement on Wednesday, 5 July 2023, garnered robust backing from both existing shareholders and new investors. Approximately 12.5 million new fully paid ordinary shares (new shares) were issued during the institutional placement, priced at AU$5.15 per share (Placement Price).
This represents a 5.2% discount to JLG's closing price on Tuesday, 4 July 2023, and a premium to the underwritten floor price of AU$5.00 per new share. Settlement of the new shares is scheduled for Monday, 10 July 2023, with allotment and normal trading commencing on Tuesday, 11 July 2023. After the placement, JLG intends to extend an invitation to eligible shareholders in Australia and New Zealand, providing them with the chance to take part in a non-underwritten share purchase plan (SPP) with the goal of raising to AU$5 million.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
