Heartland has successfully completed the institutional component of its $105 million entitlement offer and placement, raising approximately $131m.
The institutional entitlement offer, which is part of the pro-rata accelerated non-renounceable entitlement offer, saw eligible institutional shareholders take up 98% of their entitlements.
The placement and institutional entitlement offer closed on April 9 2024.
Heartland's shares are expected to resume normal trading on the NZX and ASX today.
The retail component of the entitlement offer will open on April 11 and close on April 22.
It is available to eligible retail shareholders at an application price of $1 per new share.
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