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- Steadfast Group (SDF) raises $225 million through its institutional placement to fund its ongoing acquisitions of the Trapped Capital pipeline
- The company will issue about 43.8 million new shares at $5.14 each, representing a 3.2 per cent discount to the dividend-adjusted last close price on Tuesday of $5.31
- Given the allotment of the new shares will take place after the ex-dividend date, there will be no entitlement for a FY22 dividend
- Shares are trading 1.86 per cent lower today to close at $5.29
Steadfast Group (SDF) has raised $225 million through its institutional placement to fund its ongoing acquisitions of the Trapped Capital pipeline.
The company will issue about 43.8 million new shares at $5.14 each, representing a 3.2 per cent discount to the dividend-adjusted last close price on Tuesday of $5.31.
Given the allotment of the new shares will take place after the ex-dividend date, there will be no entitlement for a FY22 dividend.
SDF has planned to offer eligible shareholders the opportunity to subscribe for new shares at the same price as the placement or at a one per cent discount to the five-day volume weighted average price.
Managing Director and CEO Robert Kelly said he was pleased with the level of interest seen in the placement.
“Pleasingly, the institutional placement was strongly supported and priced at a premium to the underwritten floor price,” he said.
Shares were trading 1.86 per cent lower today to close at $5.29.
