AWF mulls $12M rights issue in early 2015 to reduce debt, chairman says

Wed, 19 Nov 2014

By Tina Morrison Nov. 19 (BusinessDesk) - AWF Group, the contract labour firm that last year took on debt to acquire white-collar recruiter Madison, will probably launch a $12 million rights offer next year to reduce its borrowings and put some money in the kitty for potential future acquisitions. The Auckland-based company used debt to fund the $30 million purchase of Madison a year ago and expects to borrow a further $6 million later this month for a further payment after Madison met earnings targets. Chairman Ross Keenan told BusinessD...

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