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.