Generation Development Group Limited (AU:GDG) has released an update.
Generation Development Group Limited (GDG) has announced an equity raising initiative to collect approximately $155.4 million through a combined Entitlement Offer and Placement strategy. The capital raise includes issuing new shares to eligible shareholders and institutional investors, with the funds aimed to facilitate the acquisition of Lonsec. This financial move is proposed without the usual disclosure requirements, leveraging specific sections of the Corporations Act and is subject to change without notice.
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