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Synlait Milk Limited (NZX: SML) NZ$180 Million Placement Fully Subscribed

Wednesday 11th November 2020

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Synlait Milk Limited is pleased to announce that it has successfully completed the bookbuild for its approximately NZ$180 million underwritten placement, announced on 10 November 2020 (“Placement”). The Placement was strongly supported, attracting bids well in excess of the NZ$180 million placement amount.

 

The Placement was fully subscribed at the fixed price of NZ$5.10 per share. This represents a discount of 14.0% to the last trading price of NZ$5.93 on 9 November 2020 and a discount of 6.6% to the 5-day VWAP of NZ$5.46 (assessed up to and including 9 November 2020).

 

Settlement of the Placement is expected to occur on 17 November 2020 for the ASX and on 18 November 2020 for NZX, with allotment and commencement of trading on NZX and ASX expected to occur on 18 November 2020.

 

As announced on 10 November 2020, Synlait is also undertaking a NZ$20 million SPP. The SPP offer booklet, together with an application form, will be sent on 13 November 2020 to eligible retail shareholders as at the record date of 9 November 2020 with a registered address in New Zealand or Australia and will also be made available online at www.shareoffer.co.nz/synlait from 13 November 2020.

 

See the links below for more details:

 

Announcement: Synlait Milk NZ$180 Million Placement Fully Subscribed

 

Source: Synlait Milk Limited



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