Salmat launches equity raising

Company News

by Jessica Ellerm

Salmat Limited (ASX:SLM) has announced it has launched a $15 million raising via a full underwritten accelerated non-renounceable entitlement offer.

The purpose of the raising is to fund the acquisition of outsourcing business MicroSourcing International, which it acquired in August of this year.

Eligible shareholders are entitled to 1 new share for every 4.7 held, at an issue price of 43 cents per share.

The offer price is a 10.4 percent discount to Thursday’s closing price of 48 cents.

Salmat Limited reported a net loss of $6 million at 30 June 2016.


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