Vista Group International (ASX:VGL) completes NZ$25 million placement

Company News

by Katrina Bullock

Vista Group International (ASX:VGL) has successfully completed both its NZ$25 million placement and the institutional entitlement offer component of its 1 for 4.37 pro-rata accelerated entitlement offer.

The institutional entitlement offer and the placement closed yesterday (Thursday, 16 April 2020) and raised combined gross proceeds of approximately NZ$51 million.

Appetite for the institutional entitlement offer was strong, with eligible institutional shareholders electing to take up 94.5 per cent of their entitlements.

Vista Group’s shares are expected to resume normal trading on the NZX today, and on the ASX next Monday.

The retail component of the entitlement offer will open next Thursday (23 April 2020) and close at 5.00pm (NZST) on Tuesday 5 May 2020.

Shares in Vista Group International (ASX:VGL) is currently in a trading halt. It last traded at $1.32.