Bingo completes $106m capital raise

Company News

by Kathy Skantzos

Bingo Industries (ASX:BIN) has completed a $106 million capital raise in its institutional entitlement offer.

The waste management and recycling business said the funds will be used to focus on the National Recycling Group and Patons Lane Recycling Centre integration.

The company said the offer had strong support from shareholders, with uptake by eligible institutional shareholders more than 99 per cent.

The fully paid ordinary shares went for a price of $1.90 per share.

The retail entitlement offer will open on Monday 4 December.

Shares in Bingo Industries (ASX:BIN) are trading 12 per cent higher to $2.29.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.