Gentrack raises $52.4 million in discounted share offer to institutional investors

Sun, 08 Jul 2018

By Margreet Dietz July 9 (BusinessDesk) - Gentrack Group said it raised about $52.4 million in a discounted stock offer to institutional investors as part of a two-stage share sale aimed at raising funds to repay debt used for a recent flurry of acquisitions. Total take-up under the institutional entitlement offer, which closed on Thursday, was 60 percent, Auckland-based Gentrack said in a statement. The institutional entitlement offer raised about $31.5 million, the company said. The balance of the proceeds came through an institution...

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