Prime Financial Group’s $3.3M Equity Raise

Prime Financial Group Limited (AU:PFG) has released an update.

Prime Financial Group Limited has launched a non-renounceable entitlement offer to raise approximately $3.3 million, issuing 1 new share for every 13.19 shares held by current shareholders in Australia and New Zealand. The offer, which is fully underwritten by Canaccord Genuity, will result in the issuance of around 16.5 million new shares, adding to the company’s total shares by approximately 6.85%. Shareholders can also apply for additional shares through a Shortfall Offer, although allocation is not guaranteed.

For further insights into AU:PFG stock, check out TipRanks’ Stock Analysis page.