Vulcan Steel has successfully completed the retail shortfall bookbuild component of its entitlement offer, raising approximately A$87.1 million (NZ$96.6m).
The entitlement offer, which was fully underwritten, involved the issue of 14.6 million new Vulcan shares.
About 2m new shares were sold in the retail shortfall bookbuild, which cleared at a price of A$7.20 per share.
Eligible retail shareholders who did not fully take up their entitlements and ineligible retail shareholders will receive A$1.25 per new share sold in the bookbuild.
The new shares will be allotted and commence trading on the ASX and NZX on September 22, 2025.
Vulcan is an industrial product distributor and value-added processor, with 66 logistics and processing facilities across Australia and New Zealand.
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