National Veterinary Care completes $14.6M placement

Company News

by Roma Christian

National Veterinary Care Limited (ASX:NVL) has announced the successful completion of a placement of ordinary shares, for about $14.6 million.

The veterinary services provider says funds will be used to further upcoming acquisitions, as recently announced on 14 June 2017.

National Veterinary Care says the placement will be raised through the issue of about 6.5 million new fully paid ordinary shares to sophisticated, professional and institutional investors at $2.25 per share.

The company says settlement of the placement is scheduled to occur on 22 June 2017, with allotment and trading of placement shares expected to occur on the ASX the day after.

Shares in National Veterinary Care Limited (ASX:NVL) are trading 6.49 per cent higher to $2.46.