CBL to raise up to $63 mln to accelerate expansion plans

Wed, 28 Sep 2016

By Paul McBeth Sept. 29 (BusinessDesk) - CBL Corp, which sells credit surety and financial risk insurance, plans to raise up to $63 million in a share placement to institutional investors and a share purchase plan, giving it more headroom to pursue growth opportunities. The Auckland-based company will raise $60 million in an underwritten placement to institutional investors at $3.45 a share, an 8.2 percent discount to yesterday's closing price of $3.76, and raise up to a further $3 million in a share purchase plan to eligible investors a...

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