Kogan.com (ASX:KGN) completes $100 million institutional placement

Company News

by Rachael Jones

Kogan.com (ASX:KGN) is pleased to announce the successful completion of its underwritten $100 million institutional placement at an offer price of $11.45 per new share.

The Placement was well supported by existing shareholders and new investors.

Proceeds from the Placement will be used to provide the financial flexibility to act quickly on future value accretive opportunities.

As we announced yesterday Kogan.com will conduct an offer of new Shares under a non-underwritten share purchase plan up to a total of $15 million (SPP Offer) to existing shareholders on Tuesday, 9 June 2020.

Shares in Kogan.com (ASX:KGN) are trading 10.74 per cent higher at $13.71.

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.