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- CSL (CSL) completes its $6.3 billion institutional placement to fund its acquisition of Vifor Pharma
- The company will issue around 23.1 million new placement shares at an issue price of $273, representing an 8.2 per cent discount to CSL’s closing price on December 13
- Eligible investors will also be able to participate in a non-underwritten share purchase lan (SPP) to raise a further $750 million
- CSL unveiled its plan to acquire Switzerland-based Vifor in mid-December for $16.4 billion in cash
- CSL shares are down 8.3 per cent, trading at $272.58 at 11:52 am AEDT
CSL (CSL) has completed its $6.3 billion institutional placement to fund its planned acquisition of Vifor Pharma.
The company will issue roughly 23.1 million shares at $273 each, representing an approximate 8.2 per cent discount to CSL’s closing price on December 13.
CSL’s CEO and Managing Director Paul Perreault said the placement received strong support from both existing shareholders and new investors.
“We appreciate the support we received from the investment community, including
existing and new shareholders, for what is the largest ever primary equity raise in
Australia,” Mr Perreault said.
“We are now pleased to launch our share purchase plan for eligible shareholders on Tuesday, 21 December 2021, and we look forward to delivering on the exciting growth opportunities underpinning the acquisition of Vifor Pharma.”
Eligible institutional shareholders who bid at the final placement price for an amount less than or equal to their pro rata of placement shares were allocated their full bid.
In terms of the remaining shares under the placement, CSL sought to prioritise allocations to existing shareholders.
Settlement of placement shares is anticipated on December 20.
In addition to the placement, eligible shareholders will also have the opportunity to participate in a non-underwritten share purchase plan (SPP) to raise a further $750 million.
Under the SPP, shareholders will be able to apply for up to $30,000 of new shares without incurring broker or transaction costs.
The issue price will be the lower of the placement price and a 2 per cent discount to the 5-day volume weighted average price.
Full details of the SPP are expected to be released on December 21.
CSL unveiled its plan to acquire Switzerland-based Vifor in mid-December for $16.4 billion in cash.
CSL shares are down 8.3 per cent, trading at $272.58 each as of 11:52 am AEDT.
