Three companies have wrapped up major fund raisings.
Struggling property player, Goodman group revealed that it had completed the retail component of its accelerated non-renounceable entitlement offer announced in early August.
The retail issue raised around $355 million.
Goodman said this was after the completion of the institutional placement and institutional component of the Entitlement Offer which raised approximately $923 million.
"As previously indicated, Goodman received entitlement applications for approximately $282 million under the Retail Entitlement Offer, representing 80% of the stapled securities offered under the Retail Entitlement Offer.
"Further to this, applications for additional Securities in excess of entitlements have resulted in the Retail Entitlement Offer being over subscribed.
"Accordingly, Goodman Group will adopt a scale-back policy having regard for offsetting the dilutionary impact of the Placement and the issue of hybrid securities to China Investment Corporation as set out in the Retail Entitlement Offer booklet.
Goodman Group’s Chief Executive Officer, Greg Goodman said in the statement:”We have been delighted with the strong level of support we have received in the retail entitlement offer and thank retail securityholders for their continued support for the Group.”
Goodman shares closed down 2.5 cents at 58 cents.
Paladin Energy says it has now completed a $429 million private placement of shares to institutional investors.
The uranium producer said yesterday its institutional private placement of 93.45 million shares was done at a price of $4.60 per share.
Shares in Paladin closed at $4.49, up one cent yesterday.
Paladin has previously stated the placement was made to raise funds for future growth.
It produces uranium at Langer Heinrich in Namibia and its Kayelekera mine in Malawi is due to begin production this month.
It is also focused on exploration near Mt Isa in Queensland.
Primary Health Care yesterday completed the surprise $180 million fully underwritten institutional placement revealed Tuesday.
The Placement priced at $6.08 per New Share, 30 cents down (nearly 5%) from the previous last sale of $6.38.
In conjunction with the Placement, Primary’s Managing Director, Dr. Edmund Bateman (and certain of his associates) placed 11.6 million shares at $6.08, in a secondary offering.
Primary said that sale resulted in Dr Bateman’s relevant interest in Primary shares decreasing from 10.5% to approximately 7.4%.
He and associates raised $70 million from the sale.
The company said the placement and secondary sale received significant support from both existing and new shareholders, with demand generated from both domestic and international investors. The Placement and Secondary Sale were underwritten by Deutsche Bank AG, Sydney branch.
Primary says it will seek to raise up to $20 million via an offer to eligible shareholders of up to A$15,000 of shares through a SPP. New shares allotted under the SPP will be issued at the Placement price. The SPP is not underwritten.
Primary shares closed down 23 cents at $6.15, given the takers of the shares in both issues a small profit.
"Further to the announcement made on 11 September 2009 in relation to the refinancing of the Company’s existing bank debt, Primary has obtained a commitment of $125 million from Deutsche Bank.
"Following completion of the equity raising and the debt refinancing, Primary expects its new debt facilities to be drawn to approximately $900 million," Primary said.
