Generation Development Group Limited (AU:GDG) has released an update.
Generation Development Group Limited has launched a non-renounceable entitlement offer to raise A$93.4 million, with a subscription price set at A$1.95 per new share, offering 1 new share for every 3.98 existing shares held. In conjunction with this, they’ve successfully closed an institutional placement raising an additional A$62 million. These funds will primarily facilitate the acquisition of Lonsec Holdings Pty Ltd and cover associated transaction costs.
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