WiseTech Global completes $300 million placement

Company News

by Rachael Jones

Global logistics solutions group, WiseTech Global (ASX:WTC) has successfully completed a $300m fully underwritten placement of fully paid ordinary shares to existing institutional shareholders and eligible new institutional investors at a price of $20.90.

To partially accommodate the significant demand from local and global institutional investors

The size of the Placement was increased to $300 million from the expected $250 million as we reported on the 19th March, to partially accommodate the demand from local and global institutional investors.

The capital will strength their balance sheet and accelerate long-term organic growth.

Shares in WiseTech Global, (ASX:WTC) are trading 4.49 per cent lower to $22.14.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.