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- Biotech giant CSL (CSL) completes its $750 million share purchase plan (SPP), following the $6.3 billion placement
- Last year, the company announced its plans to raise the money to buy Switzerland-based Vifor for $16.4 billion in cash
- Under the SPP, investors grabbed CSL shares for $253.57 each, a two per cent discount to the five-day volume weighted average price
- CEO and Managing Director Paul Perrault was pleased with the strong support for the purchase of Vifor Pharma from CSL’s shareholders
- CSL last traded at $248.50 per share
CSL (CSL) has completed its $750 million share purchase plan (SPP), following its $6.3 billion placement.
Last year, the company announced its plans to raise the money to buy Switzerland-based Vifor for $16.4 billion in cash.
Under the SPP, investors grabbed CSL shares for $253.57 each, representing a two per cent discount to the five-day volume-weighted average price.
CSL saw the total of applications exceed the SPP target size, with valid applications totalling over $942.6 million.
The company then undertook a pro-rata scale-back of applications in-line with the scale-back principles set out in the SPP booklet.
“These principles were structured with shareholder fairness in mind and designed to deliver as close to pro-rata outcome as possible,” the company said.
CEO and Managing Director Paul Perrault was pleased with the strong support for the purchase of Vifor Pharma from CSL’s shareholders.
“On behalf of the Board, I wish to thank all shareholders who participated in the SPP. We look forward to delivering on the exciting growth opportunities underpinning the acquisition of Vifor Pharma,” he said.
Just before the market opens for the week, CSL last traded at $248.50 per share.
