SIGMA Healthcare has announced the successful completion of its fully underwritten Retail Entitlement Offer raising approximately $223 million, including take-up by Sigma's largest and major shareholder, HMC Capital Partners Fund.
The pharma company had gone to the market with the idea of raising approximately $400 million (Entitlement Offer), which was announced on 11 Dec last year.
Completion of the Retail Entitlement Offer on 19 Jan represents the final stage of Sigma's Entitlement Offer.
The institutional component of the Entitlement Offer closed last year, a Sigma statement confirmed.
Approximately 4,200 valid applications for retail entitlements were received from eligible retail shareholders for approximately 111 million new Sigma shares at the offer price of $0.70 per new share, raising approximately $77 million (including applications under the retail oversubscription facility for approximately 12 million new shares).
This represented an aggregate participation rate of approximately 53%, according to the statement.
Approximately 99 million new shares not taken up under the Retail Entitlement Offer will be allocated to the sub-underwriters of the Retail Entitlement Offer.
These numbers remain subject to final reconciliation.
New shares issued under the Retail Entitlement Offer will rank equally with existing fully paid shares from the date of issue.
The settlement date for new shares to be issued under the Retail Entitlement Offer is expected to be done today.
Allotment of these new shares is expected to occur on 29 Jan, and trading on the ASX of these new shares is expected to commence from the market opening on the following day. JG
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