Join our daily newsletter At The Bell to receive exclusive market insights
- Plato Income Maximiser (PL8) has received binding commitments to raise more than $71 million in a placement to wholesale investors
- Commitments have been received for more than 64.2 million new shares at a price of $1.11 each, which will rank equally with existing shares
- The company says proceeds raised with be invested into the Plato fund, which will then go towards its investment objectives
- The placement is scheduled to settle on November 10, with the issue of the new shares taking place on November 11
- Plato Income Maximiser is down 6.23 per cent, trading at $1.21 per share at 12:20 pm AEDT
Plato Income Maximiser (PL8) has received binding commitments to raise more than $71 million in a placement to wholesale investors.
Plato is a boutique fund manager which specialises in maximising income for pension-phase and self-managed super fund investors.
Commitments have been received for more than 64.2 million new fully paid ordinary shares in the company at a price of $1.11 each.
Following the $71,334,121 raising, the company’s trading halt was lifted, with shares resuming trade on the ASX today.
The company said proceeds raised with be invested into the Plato fund, which will then go towards its investment objectives.
The placement was not underwritten, but arranged by Taylor Collison, with Morgans and Ord Minnett as additional joint lead managers.
The placement is scheduled to settle on November 10, with the issue of the new shares to take place on November 11 2021. New shares will rank equally with existing shares.
Plato Income Maximiser is down 6.23 per cent, trading at $1.21 per share at 12:20 pm AEDT.
