Serko raises $55m to capitalise on disruption

Thu, 01 Oct 2020

Online travel expense management company Serko is in a trading halt while it completes the bookbuild for an unexpected $55 million equity raising.Serko is raising $45 million from an underwritten placement to institutional investors and $10 million from a non-underwritten share purchase plan for existing investors.The placement's final price will be set through a bookbuild process but is underwritten at a minimum price of $4.35 per share, a 3.5 percent discount to yesterday’s closing price of $4.51. The raise is worth approximately 13...

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