Duet Group
(ASX:DUE) has successfully raised $100 million to support its plan to grow its pipeline development business and diversify the group’s cash flow.
The energy and utility trust successfully completed the fully underwritten placement yesterday.
The bookbuild was oversubscribed, achieving a final price of $2.04 per new stapled security.
Chief Executive David Bartholomew says the strong institutional demand for the placement shows investors support the company’s plan.
The trading halt is expected to be lifted today.
Duet delivered a net profit of $19.6 million in fiscal 2013.
