Silver Chef Limited
(ASX:SIV) has announced it has completed a $7.5 million placement to both institutional and sophisticated investors.
Over 700,000 shares have been issued at $10.13 per share, representing a 5.2 percent discount on the five-day volume weighted average price.
Silver Chef delivers equipment funding solutions to small businesses in the hospitality sector.
Executive Chairman Allan English indicated the placement ensures the business is appropriately funded to support its strong growth outlook.
Silver Chef reported a net profit of $22.4 million at 30 June 2016.
