United Malt Group (ASX:UMG) completes $140m institutional placement

Company News

by Ortenzia Borre

United Malt Group (ASX:UMG) has completed a $140 million fully underwritten institutional placement of approximately 36.8 million new fully paid ordinary shares to institutional investors.

The new shares were issued at $3.80 per share, representing an 11.4% discount to United Malt’s last traded price on Wednesday, 13 May 2020.

United Malt (ASX:UMG) resumed normal trading on the ASX today and their shares are trading 7.69 per cent lower at $3.96.