FBR Limited (ASX:FBR) Completes Share Purchase Plan
Share Purchase Plan Overview
FBR Limited (ASX:FBR) has completed its fully underwritten Share Purchase Plan (SPP), raising $2.34 million from valid applications. The SPP was launched to obtain $8 million before costs and closed on 29 November 2024. Eligible shareholders were offered the option to purchase shares at a discounted rate of 3.8 cents each, an 11.6% discount compared to the last closing price prior to the announcement.
Shortfall and Underwriting Details
The company reported a shortfall of $5.66 million under the SPP. Bell Potter Securities Limited, the underwriter, was informed of this shortfall, which will be fully sub-underwritten by large institutional investors familiar with FBR. These institutional investors will obtain the shortfall shares upon allotment.
Next Steps and Allotment
FBR expects to allot 210,526,316 new fully paid ordinary shares on 3 December 2024. Shareholders will receive their holding statements on 4 December 2024, with trading of the new shares commencing the same day.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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