Rubicon Ltd said it has completed a $21 million capital raising.The offer was a right to buy one new share for every seven held at 60c each. About 80 percent of shareholders took up their entitlements.A bookbuild was held to sell the shares not taken up a
Rubicon Ltd said it has completed a $21 million capital raising.
The offer was a right to buy one new share for every seven held at 60c each. About 80 percent of shareholders took up their entitlements.
A bookbuild was held to sell the shares not taken up and this set a price of 80c a share. Shareholders who did not take up their entitlement get 20c a share, being the premium above 60c achieved in the bookbuild.
The company is repaying all its outstanding debt facilities and has entered into a $US15m facility with ANZ.
The new shares will start trading on April 1.
