Metro Performance Glass CEO quits, $15m capital raise on the cards as Aussie sale called off

Metro Performance Glass CEO Simon Mander. (Image: BusinessDesk)

Mon, 06 May 2024

Metro Performance Glass chief executive Simon Mander has quit after the company failed to find a buyer for its Australian business.The NZX-listed company, which has a market cap of less than $17 million, has told its shareholders it is looking to raise “at least” $15m.Metro Performance Glass (MPG) told the market about a year ago it wanted to sell Australian Glass Group (AGG), which it bought in 2016 for A$43.1m (NZ$47.5m).The proceeds from that sale were to have gone towards paying down debt, which stood at $52.8m at its half year....

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