PSC Insurance Group Ltd (ASX: PSI) has announced an $80m capital raise
PSC Insurance Group Ltd (ASX: PSI) has announced it has received firm commitments for a capital raising via a placement of 17,777,778 fully paid ordinary shares to selected institutional and sophisticated investors to raise $80m at $4.50/share (representing a 5.3% discount to the closing price on 9 March, 2022). The funds will be used over time to assist with the funding of acquisitions in accordance with the Company’s growth strategy.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.
Following the announcement, shares in PSC Insurance Group Ltd traded 5.74% lower at $4.56 per share.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
48% of businesses say they will not raise prices, primarily due to the desire to...read more