- AFT Pharmaceuticals (AFP) has opened its NZ$2 million (A$1.88 million) share purchase plan
- This share purchase plan forms part of the company’s capital raising that was announced on June 10, with the company also announcing a NZ$10 million (A$9.42 million) placement
- Eligible shareholders will be able to purchase up to NZ$50,000 (A$47,000) worth of new shares at NZ$3.75 (A$3.54) each
- Shares will be allocated on July 2 and then begin trading on the NZX on July 2 and the ASX on July 3
- AFT will use the money from both the placement and share purchase plan to increase liquidity and reduce debt
- AFT has ended the day a slight 2.21 per cent in the green with shares trading for $3.70 each
AFT Pharmaceuticals (AFP) has opened its NZ$2 million (A$1.88 million) share purchase plan.
This share purchase plan forms part of the company’s capital raising that was announced on June 10, with the company also announcing a NZ$10 million (A$9.42 million) placement.
A day later the placement was completed with 2.7 million shares issued at a price of NZ$3.75 (A$3.54) each.
This price was a 20.2 per cent discount to the close on June 9 of NZ$4.70 (A$4.43) per share and an 11.1 per cent discount to the 30-day volume-weighted average price of NZ$4.22 (A$3.98).
For the share purchase plan eligible shareholders will be able to purchase up to NZ$50,000 (A$47,000) worth of new shares at the same price as the placement.
The plan is expected to close on June 26 and share will be allocated on July 2. The shares will then begin trading on the NZX on July 2 and the ASX on July 3.
AFT will use the money from both the placement and share purchase plan to increase liquidity and reduce debt.
AFT has ended the day a slight 2.21 per cent in the green with shares trading for $3.70 each in a $363.7 million market cap.