Orica announces successful completion of AU$650 million placement

Orica Limited (ASX: ORI) announced that it had successfully completed a placement to institutional and sophisticated investors to raise AU$650.0 million. The placement comprised the issue of approx. 40.6 million fully paid ordinary shares at an issue price of AU$16.00 per new share.

The fund raised through the placement will be used to support the strategic purchase of Axis, which comprises Upfront Consideration, Earn-Out, and associated costs. This strategic acquisition will be a valuable addition to the company’s Digital Solutions platform, positioning it to become the industry’s first integrated, end-to-end, mine-to-mill solutions provider.

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