DUET Group
(ASX:DUE) has successfully completed its fully underwritten placement to raise $200 million.
The placement offer proceeds are being used by DUET Investment Holdings Limited to fund in part the takeover of DBNGP Holdings Pty Limited for $205 million.
The gas and power grid owner said the placement offer was conducted at a fixed price of $2.20 per new stapled security, with the offer oversubscribed.
DUET is also set to undertake a non-underwritten Stapled Security Purchase Plan Offer, expected to be capped at $30 million, to eligible stapled securityholders.
DUET Group recorded a net profit of $108.5 million at 31 December 2015.
