- Household cleaning products company Pental Limited (ASX:PTL) plans capital raise ahead of a planned acquisition
- PTL shares will remain in a trading halt until Friday or when the company releases more information to the market
- PTL shares last traded at 44 cents apiece
Household cleaning products company Pental Limited (PTL) has entered into a trading halt as it plans an upcoming capital raise.
The shares will remain in trading halt until Friday, 20 August or when the announcement is released to the market.
It’s been reported that the business is aiming to move into ecommerce, raising funds to go towards the $28.3 million purchase of Hampers with Bite.
Pental, the business behind household brands such as White King, Softly and Duracell, is raising $6 million via a placement to institutional investors to help fund the acquisition.
At 38¢ per share, the raise comes at a 13.6 per cent discount to its last trading price. The placement will be accompanied by a $2 million share purchase plan (SPP) for retail investors, capped at $30,000 per eligible shareholder.
PTL shares last traded at 44 cents apiece.