In today’s briefing:
- Kelsian Group Placement – Yet Another Acquisition to Add to Its Arsenal
Kelsian Group Placement – Yet Another Acquisition to Add to Its Arsenal
- Kelsian Group (KLS AU) aims to raise around US$90m (A$135m) via an institutional placement. Together with the placement, the company will also undertake a US$95m (A$143m) non-renounceable entitlement offer.
- The issuance of new shares will be a large one for the firm to digest, representing 150.6 days of three month ADV and 20.3% of current mcap.
- In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
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