Generation Development Group Limited (AU:GDG) has released an update.
Generation Development Group Limited has successfully raised approximately $126 million through an institutional offer, which included a significant equity raising to acquire the remaining shares of Lonsec Holdings Pty Ltd. The offer attracted substantial interest, with a 99.9% take-up rate from eligible institutional shareholders and the issue of 31.8 million new shares at a discount. The funds will also support the upcoming retail entitlement offer set to open for eligible shareholders, aiming to further the company’s growth.
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