Channel looks to raise $50m, inks deal with Fletcher subsidiary

(Image: Supplied)

Mon, 25 Nov 2024

Channel Infrastructure NZ is looking to raise $50 million to fund a range of investments including a bitumen import terminal at Marsden Point for a Fletcher Building subsidiary.Channel said the 1 for 12.12 underwritten pro rata accelerated renounceable entitlement offer would have an offer price of $1.60 per share.The price is a 10.1% discount to the closing price of $1.78 on Friday.The shares are currently on a trading halt. The institutional entitlement offer opens today and closes at 6pm. The institutional bookbuild - which in...

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