Gentrack Group completes institutional raising

Company News

by Anna Napoli

Gentrack Group (ASX:GTK) has announced successful completion of the institutional component of its entitlement offer.

The institutional offer closed on Thursday and raised gross proceeds of approximately NZ$31.5 million with a total take up rate of 60 per cent.

The company’s institutional Shortfall bookbuild was also well supported with strong interest from institutional shareholders and broker firm clients.

The software solutions company says gross proceeds from the offer and bookbuild are around $52 million.

Eligible retail shareholders will be invited to participate in the retail entitlement offer which opens tomorrow.

Shares in Gentrack Group (ASX:GTK) 2.66 per cent lower to $6.23.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.