Monash IVF (ASX:MVF) to raise $80 million

Company News

by Rachael Jones

Monash IVF (ASX:MVF) will seek to raise $80 million in order to cover its debts and pursue growth opportunities.

The raise was announced along with a package of initiatives designed to address the business impacts of COVID-19 and to enhance Monash IVF’s balance sheet.

The company will raise the funds via a $39.8 million institutional placement and a $40.2 million 1-for-3.05 accelerated pro rate non-renounceable entitlement offer.

The placement will be conducted at an offer price of 52 cents, a 26.8 per cent discount to its Friday close price of 71 cents.

Monash IVF is planning for a gradual return of patients.

Shares in Monash IVF (ASX:MVF) are in a Trading Halt - Last traded at 71 cents.

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.