- Computer hardware and software distributor Dicker Data (DDR) has bolstered the size of its recent share purchase plan
- Given the strong support for the capital raise, the company took in $15 million instead of the originally-planned $5 million
- A whopping $53.7 million worth of applications was received from more than 3400 shareholders
- Dicker Data has now raised a total of $65 million, with $50 million of that coming from its already-completed share placement
- The money from both the placement and share purchase plan will be used to support the company’s long-term growth objectives
- Dicker Data is up almost a per cent in mid-morning trade and shares are selling for $8.37 each
Computer hardware and software distributor Dicker Data (DDR) has completed an oversubscribed share purchase plan.
Given the strong support for the capital raise, Dicker Data increased the share purchase plan by $10 million, pulling in $15 million in new funds instead of the originally-planned $5 million.
Applications totalling $53.7 million were received from 3456 shareholders with an average amount of $15,000 being applied for. The company said given the strong number of applications, scale backs needed to be applied.
A total of 2.3 million new shares will be issued under the share purchase plan at a price of $6.625 each.
Shares are expected to be issued on June 5 and begin trading on the ASX on June 9.
Dicker Data has now raised a total of $65 million, with $50 million of that coming from its already-completed placement.
“We are pleased at the success of this equity raising, and see it as clear endorsement of Dicker Data’s long-term growth objectives,” Chairman and CEO David Dicker said.
“We are thankful to our existing shareholders for their support and welcome our new shareholders onto the Dicker Data share register,” he added.
The money from both the placement and share purchase plan will be used to support the company’s long-term growth objectives, and make sure it is well-positioned to be Australia’s leading technology distributor.
Dicker Data is up 0.84 per cent in mid-morning trade and shares are selling for $8.37 each.