APN News & Media Limited
(ASX:APN) has announced the successful completion of the institutional component of its fully underwritten 1 for 3 accelerated renounceable entitlement offer.
Approximately $160 million has been raised from the issue of new fully paid ordinary shares in APN at a price of $0.53 cents per new share.
APN has reported a take-up rate of 95 per cent, with the shortfall bookbuild attracting strong demand from existing APN shareholders and other institutional investors, at a premium of $0.12 cents above the offer price.
The retail component of the raising will open on Wednesday the 18th of May.
APN News & Media Limited reported a net loss of $4.4 million at 31 December 2015.
