Abano Announces Completion of Shortfall Bookbuild
Abano Healthcare Group Limited (NZX:ABA) advises that it has successfully completed the shortfall bookbuild component of the $35 million capital raise announced on 26 July 2017, with strong support from institutional and other eligible investors.
The clearing price under the shortfall bookbuild was $9.25 per share, a premium of $1.10 per share over the application price of $8.15 under the offer. Therefore, eligible shareholders who did not take up their full entitlements will receive $1.10 for each new share not taken up by them. Payment is expected to be made on 1 September 2017.
Chairman of Abano, Mr Trevor Janes, commented: “We are pleased with the support we have received from shareholders and the investment community. We look forward to stepping up our growth plans in the trans-Tasman dental market, particularly in Australia, as we focus on our goal of creating a $1-billion revenue dental business”.
The shares taken up under the offer are expected to be allotted and commence trading on 30 August 2017.