CHI - Completion of retail bookbuild

Channel Infrastructure NZ Limited (Channel Infrastructure) (NZX: CHI ) advises that it has successfully completed the Retail Bookbuild component of its underwritten 1 for 12.12 underwritten pro rata accelerated renounceable entitlement offer (the Offer) announced on Monday, 25 November 2024. Channel Infrastructure has now successfully completed the Offer, raising total gross proceeds of ~$50 million.

The net proceeds of the Offer will provide funding for the three new growth contracts secured in 2024.

The Retail Bookbuild of approximately 3.8 million shares was well supported, achieving a clearing price of $1.80 per share.

The clearing price represents a premium of $0.20 per share over the offer price of $1.60 per share. Therefore, eligible retail shareholders who did not take up their entitlements in full and ineligible retail shareholders will receive $0.20 for each entitlement not taken up by them (less any applicable withholding taxes). This premium is expected to be paid on Friday, 20 December 2024.

Scaling has been applied to institutional and broker bids, and to applications received from eligible retail shareholders who took up their entitlements in full under the Retail Entitlement Offer, in accordance with the allocation policy set out in the Offer Document dated 25 November 2024.

Channel Infrastructure Chief Executive Officer Rob Buchanan, said: “We are extremely pleased with the significant level of shareholder support received across both the Retail Offer and Institutional Offer. The Offer was structured to provide fairness to shareholders, whilst also securing funding for Channel Infrastructure’s key growth initiatives. Once again, we thank our shareholders for the continued confidence they have shown in Channel Infrastructure.”

New shares issued under the Retail Entitlement Offer and the Retail Bookbuild are expected to be allotted and commence trading on the NZX on Monday, 16 December 2024.

-ENDS-

• Completion of Retail Bookbuild

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

SKT - Sky secures iconic sports rights
RYM - Ryman completes Retail Entitlement Offer
TEM - Transaction in Own Shares
FPH launches F&P Nova™ Nasal mask in NZ and AU
Fonterra announces changes to management team
March 12th Morning Report
WHS FY25 Interim Results teleconference details
VGL - Odeon Cinemas Group signs for Vista Cloud
DGL - T&G appoints new Director
TEM - Transaction in Own Shares