ERoad Limited has requested a trading halt for its ordinary shares in order to conduct an institutional component of a pro rata accelerated renounceable entitlement offer and an institutional placement.
The trading halt will remain in place until an announcement is made regarding the outcome of the institutional bookbuild or market open on Monday, September 11, 2023.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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