Dicker Data (ASX:DDR) completes $50M placement

Company News

by Katrina Bullock

Infotech product distributor, Dicker Data (ASX:DDR) has successfully completed its $50 million institutional placement.

Under the placement, 7.5 million new shares will be issued at $6.70 per share.

That represents a 6.7 per cent discount to the closing price on Wednesday and a 4.6 per cent discount to the 5-day volume weighted average price.

The proceeds of the raising will be used to partially fund construction of Dicker Data’s new distribution centre and to bolster Dicker Data Financial Services.

Dicker Data shares are expected to resume normal trading on the ASX today.

Shares in Dicker Data (ASX:DDR) are trading 2.37 per cent lower at $7.01.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.