AUB Group Raises Capital to Support Strategic UK Expansion
AUB Group Limited (ASX: AUB) has successfully completed an institutional equity placement, raising AU$400 million through the issue of approximately 13.6 million new shares priced at AU$29.40 each. The transaction saw robust participation from current shareholders as well as new institutions, highlighting market confidence in the company’s long-term strategy. Proceeds from the equity raising, alongside new debt facilities, will primarily fund the acquisition of Prestige and related transaction costs, while also supporting future value-accretive opportunities. The shares were issued at a price that was 7.9% below the company’s most recent closing share price before the announcement.
Alongside the institutional placement, the company plans to launch a non-underwritten Share Purchase Plan of up to AU$40 million for eligible Australian and New Zealand shareholders, with individual applications capped at AU$30,000. Management highlighted that the transaction strengthens AUB’s balance sheet and positions the group to accelerate its UK retail strategy, with the integration of Prestige expected to enhance long-term shareholder value.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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AUB Group Raises Capital to Support Strategic UK Expansion
AUB Group Limited (ASX: AUB) has successfully completed an institutional equity placement, raising AU$400 million through the issue of approximately 13.6 million new shares priced at AU$29.40 each. The transaction saw robust participation from current shareholders as well as new institutions, highlighting market confidence in the company’s long-term strategy. Proceeds from the equity raising, alongside new debt facilities, will primarily fund the acquisition of Prestige and related transaction costs, while also supporting future value-accretive opportunities. The shares were issued at a price that was 7.9% below the company’s most recent closing share price before the announcement.
Alongside the institutional placement, the company plans to launch a non-underwritten Share Purchase Plan of up to AU$40 million for eligible Australian and New Zealand shareholders, with individual applications capped at AU$30,000. Management highlighted that the transaction strengthens AUB’s balance sheet and positions the group to accelerate its UK retail strategy, with the integration of Prestige expected to enhance long-term shareholder value.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au