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- Domino’s Pizza (DMP) successfully raises $150 million to acquire full ownership of its German joint venture operations
- The institutional placement issued 2.3 million new shares at $66.38 a share, which was the closing price on November 30
- Dominos has also launched its share purchase plan at an issue price of either $66.38 or a 2 per cent discount to the closing price on the SPP’s offer period, whichever is lower
- Shares in Domino’s Pizza are up 0.47 per cent, trading at $66.69 at 11:00 am AEDT
Domino’s Pizza (DMP) has successfully completed its $150 million institutional placement, indicating strong support from existing and new investors.
The placement issued 2.3 million new shares at $66.38 a share, the closing price on November 30.
The major pizza chain will use the money to take full control of its German joint venture operations to expand its global footprint. The company will use any leftover funds from the raise for debt retirement.
“We look forward to acquiring full ownership in Domino’s Pizza Germany and continuing to build the momentum across our network and delivering value to our customers, team members, franchisees and investors,” CEO Dong Meij said.
The company has also launched its share purchase plan (SPP) with an issue price of either $66.38 or a 2 per cent discount to the closing price on the SPP’s offer period, whichever is lower.
The last day of the offer period is expected to be on December 22 and eligible shareholders can apply for up to $30,000 worth of shares.
Tentatively, the issue and allotment of the new securities issued under the SPP will be held on December 30.
Settlement of the placement is expected on December 6.
Shares in Domino’s Pizza were up 0.47 per cent, trading at $66.69 at 11:00 am AEDT.
