- Navigator Global Investments (NGI) successfully completes its share purchase plan (SPP) and raises over $3.87 million
- Participants were able to subscribe for up to $30,000 worth of fully-paid ordinary shares that were priced at $1.48 each
- The SPP followed the recent $47 million placement which was undertaken to grab a 19.8 per cent stake in US real estate manager Marble Capital for US$100 million (A$142 million)
- Under the placement, around 30.4 million new shares were issued to participants at a price of $1.55 per share
- Shares in Navigator are up 1.03 per cent on market close and trading at $1.47.
Navigator Global Investments (NGI) has successfully completed its share purchase plan (SPP) and raised over $3.87 million.
Participants were able to subscribe for up to $30,000 worth of fully-paid ordinary shares that were priced at $1.48 – a two per cent discount to the five-day volume-weighted average price.
The SPP followed Navigator’s recent $47 million placement which was undertaken to grab a 19.8 per cent stake in US real estate manager Marble Capital for US$100 million (A$142 million).
Marble Capital focuses on multifamily real estate developers and operators across key US markets.
Under the placement, around 30.4 million new shares were issued to participants at a price of $1.55 per share.
Shares under the plan are expected to be issued on May 18 and begin trading on the ASX on May 19.
Navigator will use the money from both the placement and share purchase plan to fund the Marble Capital purchase.
Shares in Navigator were up 1.03 per cent on market close and trading at $1.47.