Resurgent mining and civil contractor NRW Holdings has successfully completed a share placement to institutional and sophisticated investors, raising approximately $20 million. Managing Director Jules Pemberton said the placement closed well oversubscribed and would provide greater balance sheet flexibility to pursue future opportunities. The new shares are scheduled to be issued on 26 September 2016.
Successful Completion of A$20m Capital Raising
NRW Holdings Limited (“NRW” or the “Company”) (ASX: NWH) is pleased to announce the successful completion of its placement announced on 20 September 2016, raising approximately $20m (“Placement”). The Placement was undertaken at $0.49 per share (4.9% discount to last closing price), and within the Company’s 15% placement capacity in accordance with ASX Listing Rule 7.1.
NRW’s Managing Director, Mr. Jules Pemberton, said “We are very pleased with the level of support for the Placement, which closed well oversubscribed. We are grateful for the strong support of our existing institutional shareholders and are also delighted to welcome several new institutional investors to our share register. The Placement further strengthens our balance sheet, providing us with greater flexibility to pursue opportunities in the future.”
UBS AG, Australia Branch and Euroz Securities Limited served as Joint Lead Managers and Bookrunners.
The new shares are scheduled to be issued on Monday, 26 September 2016.