Turners Automotive's $25 million placement fully subscribed

Thu, 14 Sep 2017

By Paul McBeth Sept. 14 (BusinessDesk) - Turners Automotive Group's $25 million placement was fully subscribed yesterday with the underwriter not called on to top up the discounted offer. The Auckland-based company sold about 8.3 million shares at $3.02 apiece yesterday, which it says will go towards "strategic growth opportunities" including the continued expansion of its loan book and potential property and dealership acquisitions. The placement was fully underwritten by sole lead manager UBS New Zealand, but that facility wasn't calle...

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