Afterpay (ASX:APT) completes institutional raising

Company News

by Rachael Jones

Afterpay (ASX:APT) successfully raised $650 million via a fully underwritten institutional placement that was strongly supported by existing and new shareholders.

Placement was priced at $66.00 per share.

A Share Purchase Plan to raise approximately $150 million will follow the Placement with eligible Afterpay shareholders offered the opportunity to acquire additional new shares.

Proceeds will be used to accelerate investment in growing underlying sales, and prioritising global expansion in the short term.

Shares in Afterpay (ASX:APT) are trading 2.51 per cent lower at $66.29.

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.