- WAM Leaders (WLE) has entered a two-day trading halt while it seeks to offer up shares from a recent shortfallen entitlement offer
- Company shares are expected to remain in a trading halt until Thursday, when the outcome of the proposed placement is disclosed to the market
- WAM is offering up shares leftover from an entitlement offer completed in July to sophisticated and professional investors at $1.44 each
- Thw placement is being overseen by Adelaide-based financial services firm Taylor Collison
- Prior to today’s trading halt, WAM Leaders shares last changed hands at $1.53
WAM Leaders (WLE) has entered a two-day trading halt while it seeks to offer up shares from a recent shortfallen entitlement offer.
Shares in the asset management company have been tabled to sophisticated and professional investors at $1.44 apiece. The shares are set to be allotted under a shortfall facility scheduled for August 19.
According to WAM, shares will be offered at the same price and terms as the 1 for 5 non-renounceable Entitlement Offer undertaken in July.
The entitlement offer sought to raise $241.2 million in exchange for approximately 167.5 million shares, with proceeds set to go back into the WAM Investment Leaders portfolio.
New shares issued under the offer were also entitled to a 3.5 cents fully franked dividend.
Company shares entered the trading halt this morning and are expected to recommence trading on Thursday August 12 when the outcome of the raise is made to the market.
Adelaide-based financial services firm Taylor Collison is overseeing the shortfall facility placement.
Prior to today’s trading halt, WAM Leaders shares last changed hands at $1.53.