Just days after securing a EUR120 million ($196 million) commitment from Export Finance Australia as part of its debt funding efforts, Vulcan Energy Resources has gone cap in hand to listed equities investors, seeking a further $164 million.
Canaccord Genuity and Morgan Stanley were tapped to oversee the placement, which saw 28 million new shares offered at $5.85 per share, an 11.9 per cent discount to the last close and a 12.8 per cent discount to the 10-day volume-weighted average price.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
